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2018 (4) TMI 883 - AT - Income TaxAddition made on account of deposit in S.B. A/c in the hands of the assessee’s brother substantively and addition of the same amount was made in the hands of the assessee protectively - Held that:- Order passed by the CIT(A) needs slight modification. The direction of the CIT(A) that if addition is deleted in the hands of Ram Prakash Senapati then addition in the hands of the assessee should be confirmed is not correct. In our considered view, if the addition in the hands of Ram Prakash Senapati comes to be deleted, then it has to be examined as to whether the addition can be made in the hands of the assessee or not. Hence, we modify the order of the CIT(A). We direct the Assessing Officer to adjudicate the issue of addition in the hands of the assessee after allowing reasonable opportunity of hearing to the assessee. With these directions, the grounds of appeal of the assessee are allowed. Levy of penalty u/s 271B - assessee did not file tax audit report u/s.44AB of the Act for the impugned assessment year 2009-2010 before the due date of filing of return of income 139(1) - Held that:- The audit report was obtained within section 139(1) time limit is not in dispute. It is also not in dispute that the copy of audit report was furnished to the Assessing Officer as and when the Assessing Officer called for the same. The revenue has not brought no material on record to show that the assessee has violated the above quoted circular of CBDT. In these circumstances, following the above quoted circular of the CBDT, in our considered view, penalty levied u/s.271B of the Act in the instant case is untenable - Decided in favour of assessee.
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