9911796707
TMI Blog2023 (4) TMI 1092X X X X Extracts X X X X X X X X Extracts X X X X ..... pplication for condonation of delay but none appeared on behalf of the assessee. 3. During the course of hearing, the ld. DR has no objection to assessee's application for condonation of delay and prayed that Court may decide the issue as deem fit and proper in the case. 4. We have heard the DR and perused the materials available on record. The prayer as mentioned above by the assessee for condonation of delay of 14 days has merit and we concur with the submission of the assessee. Thus the delay of 14 days in filing the appeal by the assessee is condoned in view of the decision of Hon'ble Supreme Court in the case of Collector, land Acquisition vs. MSt. Katiji and Others, 167 ITR 471 (SC) as the assessee is prevented by sufficient cause. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... It is observed that the grounds raised are interconnected to each other, as such the grounds raised are adjudicated together as under. 5.2. As per the annexure to the appeal Form-35, the Department has received the information that the appellant had sold a shop no.183, Municipal no.311/2, Chandpole Bazaar, Jaipur for a sum of Rs.19,51,000/- which was valued by the Sub Registrar at Rs.2577,750/- for the purposes of levy of stamp duty. Thus the Assessing Officer has issued a notice u/s 133(6) dated 03/03/2017 for verification of the sale of property transaction. In response, the appellant has submitted that the said transaction was not disclosed in the return of income. On being verified with the records, the AO found that the appellant had ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act for not filling return of Income for the Asst Year 2010-11 as required under sub section (1) of section 139 of the Act. 5.4 The provision of section 271F of IT Act is given below: "Penalty for failure to furnish return of income. 271F. If a person who is required to furnish a return of his income, as required under sub-section (1) of section 139 or by the provisos to that sub-section, fails to furnish such return before the end of the relevant assessment year, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of five thousand rupees." 5.5 It is, clear from bare reading of the above provision that whether or not the penalty as envisaged in Section 271 F of the Act is to be imposed, is a mat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tter, and accordingly dismissed." 8. Per contra, the ld. DR relied on the order of the lower authorities. 9. We have considered the contention of Sr DR and perused the orders of the authorities and the material available on record. The Bench noted that the ld. CIT(A) has decided the appeal of the assessee in detail considering the submissions of the assessee. The ld. CIT(A) has also upon relying the decision of the Coordinate Bench in case of Shankar Lal Kumawat vs. ITO (2021) 125 taxmann.com 347 wherein the Coordinate Bench has held "that where assessee had not filed its return of income on ground that his income did not exceed maximum non-taxable amount as his income was exempt under section 54, in view of fact that assessee's total inc ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
