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M/s. Gemorium Versus The ITO Ward- 5 (1) , Jaipur

Penalty u/s 271B - assessee firm could not get the accounts audited within time limit prescribed u/s 44AB - reasonable cause for delay - Held that:- The assessee firm got the accounts audited on 1-05-2009 and filed the return of income on 23-05-2009 which resulted delay of almost 08 months. It is noted from the submissions of the assessee that it is the first instance of delay in getting the accounts audited pertaining to assessment year 2008-09. The assessee submitted that the bone of contentio .....

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ld hereinabove that the delay made by the assessee firm in filing the return of income is for the first time i.e. in A.Y. 2008-09 which was on account of dispute of audit fee between the assessee and the auditor. Hence, it appears that the dispute with the statutory auditor is a reasonable cause within the meaning of Section 273B as held in the case of Kripa Industries (I) Ltd. vs. JCIT (2001 (10) TMI 300 - ITAT PUNE ) that there is no mala fide reason for not obtaining the accounts audited in t .....

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or the assessment year 2008-09 raising therein solitary ground as under. In the facts and circumstances of the case and in law the ld. CIT(A) has erred in confirming the action of the AO in imposing penalty u/s 271B of the Act amounting to ₹ 1.00 lac. The action of the ld. CIT(A) is illegal, unjustified, arbitrary and against the facts of the case. Relief may please be granted by quashing the penalty of ₹ 1.00 lac imposed u/s 271B of the Act. 2.1 Brief facts as conclusively emerges o .....

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ed by the auditor with whom it had dispute over audit fees. Appellant also submitted that it is for the first time such delay happened and after this year auditor was also changed. However, Assessing Officer examined the auditor to verify the appellant s explanation. On examination, AO reached the conclusion that the delay in audit was caused by late submission of accounts by the assessee to the auditor. Auditor confirmed that there was no dispute over fees and therefore, it was not the reason f .....

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regarding audit fees and the explanation of the assessee was not accepted by the AO and thus he imposed the penalty u/s 271B of the Act. The ld. AR of the assessee submitted that there was no delay in filing of the return for the last about 18 years, the delay was made only during assessment year under consideration i.e. 2008-09, the assessee changed the auditor from the assessment year 2009-10, there was no delay in filing the return of income for the assessment year 2009-10, the penalty was le .....

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(Pune) (v) Ashoka Dairy (2005) 149 Taxman 732 (P&H) (vi) A.K. Kraipak vs. Union of India AIR 1970 SC-150 (vii) Shree Ram Durga Prasad and Fateh Chand vs. Settlement Commissioner 1989-SC-1038 (viii) Andaman Timber Industries (Civil Apeal No. 4228 of 2006) The ld. AR of the assessee prayed for quashing the penalty imposed by the lower authorities. 2.3 The ld. DR relied on the orders of the lower authorities. 2.4 We have heard the rival contentions and perused the materials available on record .....

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