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2015 (10) TMI 1507 - ITAT MUMBAI

2015 (10) TMI 1507 - ITAT MUMBAI - TMI - Penalty u/s. 271B - failure to get accounts audited - Held that:- AO had to take permission from the Joint Commissioner before levying the penalty as the amount of penalty exceeded ₹ 10,000/-. There is nothing in the order of the penalty which could show that the ITO has taken prior permission from the Joint Commissioner. When a statute required a thing to be done in a certain manner, it shall be done in that manner alone. When a particular authorit .....

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f the First Appellate authority is liable to be set aside. We direct the AO to delete the penalty so levied. - Decided in favour of assessee. - ITA No. 6606/Mum2011 - Dated:- 20-5-2015 - Joginder Singh, JM And N. K. Billaiya, AM,JJ. For the Appellant : Shri Vimal Punmiya For the Respondent : Shri Neil Philip ORDER Per N K Billaiya, AM. This is an appeal by the assessee directed against the order of the Ld. CIT(A)-2, Mumbai dt. 12.7.2011 pertaining to assessment year 2000- 01. 2. The sole grievan .....

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ng that the assessee has failed to get its account audited, the penalty proceedings u/s. 271B of the Act was initiated. An opportunity was given to the assessee to show cause as to why penalty should not be levied u/s. 271B of the Act. On receiving no plausible reply, the AO proceeded by levying penalty at ₹ 77,927/-. 4. Aggrieved by this, the assessee carried the matter before the Ld. CIT(A) but without any success. 5. Before us, Ld. Counsel for the assessee brought to our notice that the .....

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274 of the Act. 6. Per contra, the Ld. Departmental Representative supported the orders of the authorities below. 7. We have given a thoughtful consideration to the orders of the authorities below and the judicial decisions relied upon by the Ld. Counsel. The undisputed fact is that the Enforcement Directorate took action against the assessee on 29.12.2012 taking away all the papers, books and vouchers etc. It is also a fact that Director of the Company was arrested. The issue before us is can t .....

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on on 29.12.2000 which means that the assessee had grossly failed to get its books of account audited on or before the due date i.e. 30.11.2000 much before the books and other documents were impounded by Enforcement Directorate. The assessee fails on this ground. 8. Before us, the Ld. Counsel has relied upon certain judicial decisions (supra) in support of his contention that quantum additions have been set aside therefore no penalty is leviable. We do not agree with this contention of the Ld. C .....

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