RANJIT KUMAR BEHERA, Jagatsinghpur V. ITO, Paradip Ward

ITA 105/CTK/2021

• Counselvise Citation: [2021] 104 COUNSELVISE.COM (IT) 6146 (ITAT-CUTTACK)
• Duration Of Justice: 2 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-12-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2015-2016
• Appeal Filed On: 06-10-2021
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 271B; 44AB

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, BEFORE Sri Ranjit Kumar M/s. Mahabir Filling Station, At: Pokharipada, Chatua, Dist: Jagatsinghpur PAN/GIR No. (Appellant This is an appeal filed by the assessee against the or CIT(A),NFAC, Delhi dated 20.8.2021 2. The sole issue involved in the grounds of appeal is that the ld CIT(A) was not justified in confirming the penalty levied u/s271B of the I.T.Act without recording satisfaction. 3. i have heard rival submissions and gone through the facts and circumstances filed return of income through electronically i.e. e Officer noticed that the assessee had disclosed gross contract receipts at Rs.214,87,888/ IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK ‘SMC’ BENCH, CUTTACK BEFORE SHRI CHANDRA MOHAN GARG, JUDICIAL ITA No.105/CTK/2021 Assessment Year : 2015-16 Sri Ranjit Kumar Behera, Prop. M/s. Mahabir Filling Station, At: Pokharipada, Chatua, Dist: Jagatsinghpur Vs. ITO, Paradeep Ward, Paradeep No.AHZPB 1743 R (Appellant) .. ( Respondent Assessee by : ShriK.K.Bal, AR Revenue by : Shri Charan Das Date of Hearing : 07/12/ 20 Date of Pronouncement : 20/12 O R D E R This is an appeal filed by the assessee against the or CIT(A),NFAC, Delhi dated 20.8.2021 for the assessment year The sole issue involved in the grounds of appeal is that the ld CIT(A) was not justified in confirming the penalty levied u/s271B of the I.T.Act without recording satisfaction. have heard rival submissions and gone through the facts and circumstances of the case. The assessee for the relevant assessment year filed return of income through electronically i.e. e-filing. Officer noticed that the assessee had disclosed gross contract receipts at Rs.214,87,888/- in his return of income. On verification of the return of Page1 | 4 IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH, CUTTACK JUDICIAL MEMBER ITO, Paradeep Ward, Paradeep Respondent) , AR : Shri Charan Das (DR) / 2021 12/2021 This is an appeal filed by the assessee against the order of the for the assessment year 2015-16. The sole issue involved in the grounds of appeal is that the ld CIT(A) was not justified in confirming the penalty levied u/s271B of the I.T.Act have heard rival submissions and gone through the facts and of the case. The assessee for the relevant assessment year filing. The Assessing Officer noticed that the assessee had disclosed gross contract receipts at erification of the return of ITA No.105/CTK/2021 Assessment Year : 2015-16 Page3 | 4 5. I find that now the Central Board of Direct Taxes vide circular No.5/2007 dated 26.07.2007 has done away with the requirement of furnishing of audit report as obtained u/s. 44AB of the Act in the cases, where return of income is filed electronically. The relevant clarification issued in para 6 (i) and (ii) are as under: "(i) The report of audit under section 44AB is not to be attached with the return. It should not be furnished separately also before or after the due date. However, an assesee should get the report of audit from an accountant under said section before the due date of the furnishing of the return and should fill out the relevant columns of these forms on the basis of such report. The assessee should retain the report with himself. It may be furnished in original during the assessment proceedings. No penalty under section 271B shall be initiated or levied for not furnishing the tax audit report on or before the due date. However, if the audit report has not been obtained before the due date, provisions of section 271B shall be attracted. (ii) These returns are not to be accompanied with any other document including any statutory form or report of audit (other than the report under section 92E) which is otherwise required to be furnished before the due date or along with the return for making any claim. The provisions of the law shall be deemed to have been complied with in respect of the requirement of the filing of the attachments or documents or reports along with the return. No penalty shall be initiated/levied for not furnishing such documents if such documents were otherwise obtained before the specified date, if any, provided in the statute. All these documents should be retained by the tax payers and be furnished in original during the scrutiny proceedings." 6. I find from the assessment order and the relevant clarification issued by Circular No. 5/2007 that in case of electronically filed return the assessee has to submit audit report during assessment proceedings. From the penalty order, it is noted that the assessee has filed the audit report online on 30.3.2017. From the above, it is clear that the assessee has furnished