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2019 (5) TMI 1059

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..... 100/- per day. When the assessee did not appear on 15.12.2015 why the action was not taken against the assessee, the reason is best known to the revenue authorities who waited for almost 2 years to compute the penalty. From 10.9.2015 to 15.12.2015 a total number of days for the failure on the part of the assessee is 97 days. In our considered view, totality of the facts and in the interest of justice and fair to both the parties we hold that sustaining the penalty of ₹ 9700/- (97 days x ₹ 100/- per day) on the assessee will be justified and it will be a message to the government authorities, so that in future such casual approach should not be taken and compliance to the statutory requirements including reply of notices by Incom .....

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..... quired to submit a statement in Form 61B for every financial year by 31st May of following that year. In financial year 2014-15 the due date of filing of information in prescribed form No.61B was 31.5.2015. This date was extended by the Income Tax Department to 10.9.2015. The assessee failed to file the Annual Information Return (AIR) as required as per the provisions of Section 285BA. Show cause notice was issued by the Ld. Director of Income Tax (I&CI) on 26.11.15 to file necessary information latest by 15.12.2015 but no compliance was received. Again notice was issued on 31.03.2016 u/s 271FA r.w.s. 274 of the Act for levying penalty for non filing of the information. None attended on the date of hearing. Last opportunity was given to .....

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..... artment. 6. We have heard rival contentions and perused the records placed before us. The assessee is a local authority controlled by State Government of Madhya Pradesh and carries out the work of registration of the documents pertaining to transfer of immoveable properties. The assessee is covered under the list of persons provided u/s 285BA Sub Section (i) of the Act and is under obligation to furnish AIR for the financial transaction or reportable action in Form No.61B. As per provisions of Section 285BA(ii) of the Act assessee was required to furnish statement in Form No.61B for every financial year by 31st May of the following year. The due date for financial year 2014-15 was 31.5.2015 which was subsequently extended to 10.12.2015. The .....

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..... nual Information Report for financial year 2014-15 on 14.12.2017. Certainly there was a delay but there was reasonable cause for such delay. 8. However looking to the fact that the assessee has not given any reply to the numerous notices issued by the Income Tax Department deleting total penalty will not be a good message to the various government departments who are bound to supply the information to the Income Tax Department which per se helps in checking the tax evasion as well as assessing the correct income of various persons. We notice that the assessing authority has computed the penalty @₹ 500/- per day which was changed from ₹ 100/- to ₹ 500/- w.e.f. 1.4.2018, therefore the penalty if any has to be computed @ͅ .....

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