2008 (7) TMI 532

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..... Appellate Tribunal dated February 10, 2005, I. T. A. No. 880/Mds/1999 is put in issue by formulating the following questions of law: "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that no penalty is imposable under section 271B for non-compliance with the provisions of section 44AB on the ground that the returns were filed belatedly neith .....

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..... "We heard the learned standing counsel appearing for the Revenue, who submitted that there cannot be a situation where a person files his appeal on time, but does not file his audit report on time, should be in a worse situation than a person who files both belatedly. She further submitted that the Tribunal ought to have given a finding of the fact as to when the audit report was signed, and there .....

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..... come filed under section 139(1) or in response to notice under section 142(1), the submission that the audit report should have been filed within the specified date was not correct, as the specified dates only arise to return filed under section 139(1) or response to notice under section 142(1)(i). Hence, when the return was not filed under the provision of law, no default could be made out under .....

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