Vimla Devi Agrotech Ltd. vs. Assistant Commissioner of Income-tax

Parties Involved

Facts Summary

The assessee, Vimla Devi Agrotech Ltd., a limited company, completed its assessment under section 144 read with section 147 of the IT Act, 1961 on 31.10.2018 at a total income of Rs. 5,08,87,740/-. The Assessing Officer (AO) noticed that the appellant had not maintained books of account and got the same audited under section 44AB of the Act. The AO initiated penalty proceedings under section 271B for non-maintenance of books of accounts. The assessee replied to the notices issued by the AO in a timely manner. However, the AO passed a penalty order dated 30.04.2019. The assessee preferred an appeal before the Commissioner (Appeals) (CIT(A)), but the CIT(A) passed an ex-parte order without affording a reasonable and adequate opportunity to the assessee. Hence, the assessee is in appeal before the Tribunal.…

Legal Issues

• 1. The ld. CIT(A) erred in law as well as on the facts of the case in passing the impugned order without affording adequate and reasonable opportunity to the assessee.
• 2. The ld. CIT(A) erred in law as well as on the facts of the case in confirming the penalty u/s 271B of the Act of Rs. 1,50,000/- imposed by the AO.

Judgment Outcome

Decided in favour of Assessee.

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