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2021 (5) TMI 376 - ITAT MUMBAICondonation of delay - Penalty u/s 271(1)(c) - assessee's claim for deduction under Sec. 80P(2)(d) of the interest income received denied - HELD THAT:- On a perusal of the records, we find that the assessee society had candidly admitted that the delay in filing of the appeal had arisen because of their bonafide belief that as the quantum assessment was challenged before the CIT(A), thus, the penalty order passed by the A.O u/s 271(1)(c) would therein get merged and no separate appeal was required to be filed. Fact that the assessee had filed its appeal against the quantum assessment order passed by the A.O under Sec. 143(3), dated 02.12.2016 with the CIT(A) well within the prescribed time therein clearly rules out any lackadaisical approach on its part in dealing with its income-tax matters. Rather, there could also be no malafide reason on the part of the assessee in adopting any delaying tactics in filing of the appeal against the order passed by the A.O under Sec. 271(1)(c) As deposed by Shri. Sanjay D. Salvi, Chairman of the assessee society, after learning about the requirement of filing a separate appeal against the penalty order passed by the A.O under Sec. 271(1)(c) the assessee had deposited the requisite appeal fees on 22.08.2017. However, as the appeal was to be electronically filed and digital signatures of the assessee were required, therefore, some time would have been exhausted in doing the needful on the part of the assessee as well as its chartered accountant. We are unable to persuade ourselves to subscribe to the declining on the part of the CIT(A) to condone the delay involved in filing of the present appeal. Apart from that, as the assessee's claim for deduction under Sec. 80P(2)(d) of the interest income received by it from M/s. Saraswat Cooperative Bank Ltd. had been allowed by the CIT(A), thus, the very addition as regards which the impugned penalty under Sec. 271(1)(c) was imposed on the assessee does no more survive. - Decided in favour of assessee.
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