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TMI Blog2024 (1) TMI 694X X X X Extracts X X X X X X X X Extracts X X X X ..... e Commissioner of Income-tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as "CIT(A)" for short] dated 26.10.2023 passed under Section 250 of the Income Tax Act, 1961 [hereinafter referred to as "the Act" for short], confirming the penalty imposed by the Assessing Officer u/s 271F of the Act vide order dated 24.09.2022, for the Assessment Year 2015-16. 2. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income, as required under sub-section (1) of Section 139 or by the proviso to that sub-section, fails to furnish such return before the end of the relevant assessment year i.e. on or before 31.03.2016, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of Rs. 5000/-. The assessee did not file his return of income which was required to file by 31.03.2016. The ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be to harass the assessee and there was no intention of hiding the tax on behalf of the assessee. In the present case, the assessee has filed return of income in response to the notice u/s 148 of the Act and, therefore, Section 271F of the Act will not be applicable in the present case. The ld. AR further submitted that after issuing the notice u/s 148 of the Act, the Assessing Officer cannot imp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ord. It is pertinent to note that the assessee failed to furnish return of income as required under sub-section (1) of Section 139 of the Act; but the penalty was initiated after passing of assessment order u/s. 147 of the Act. The Assessing Officer has initiated the penalty u/s. 271F of the Act after the completion of assessment order u/s 147 of the Act. Though there is no time limit prescribed u ..... X X X X Extracts X X X X X X X X Extracts X X X X
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