Immunity From Penalty U/s. 271(1)(c) Available For Belated Returns

PrintPDF

INCOME TAX APPELLATE TRIBUNAL, “G” BENCH, MUMBAI

BEFORE SHRI RAJENDRASINGH, ACCOUNTANT MEMBER

AND SHRI AMIT SHUKLA, JUDICIAL MEMBER

ITA no. 7737/Mum./2011 – Assessment Year: 2008-09)

Income Tax Officer (Central)

v/s

Mr. Gope M. Rochlani

Date of Order – 24.05.2013

In our considered opinion, once the legislature has not specified the “due date” as provided in section 139(1) in Explanation 5A, then by implication, it has to be taken as the date extended under section 139(4). In view of the above, we hold that the assessee gets the benefit / immunity under clause (b) of Explanation to section 271(1)(c) because the assessee has filed its return of income within the “due date” and, therefore, the penalty levied by the Assessing Officer cannot be sustained on this ground. Even though we are not affirming the findings and the conclusions of the learned Commissioner (Appeals), however, as per the discussion made above, penalty is deleted in view of the interpretation of Explanation 5A to section 271(1)(c). Consequently, the ground raised by the Revenue is treated as dismissed.