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1 - 9 of 9 (0.31 seconds)Section 271B in The Income Tax Act, 1961 [Entire Act]
Section 27 in The Income Tax Act, 1961 [Entire Act]
Section 154 in The Income Tax Act, 1961 [Entire Act]
Section 273B in The Income Tax Act, 1961 [Entire Act]
Lachman Chaturbhuj Java vs R.G. Nitsure And Others on 16 January, 1981
In the case of Lachman Chaturbhuj Java v. R.G. Nitsure [1981] 132 ITR 631 the Bombay High Court held that it would not be unreasonable to expect an assessee who engages a chartered accountant to assist him in tax matters to be advised and guided by him and if the assessee acts under the advice and guidance of the chartered accountant and does not file a return, it cannot be said that the failure to furnish his return within the prescribed time is without reasonable cause.
The Income Tax Act, 1961
Hindustan Steel Ltd vs State Of Orissa on 4 August, 1969
Their Lordships of the Orissa High Court have followed the ratio of the decision of the Supreme Court in Hindustan Steel Ltd. v. State of Orissa [ 1972] 83 ITR 26. In my view the ratio of this decision would be applicable in this case also. Respectfully following this decision, I hold that there is no default committed by the appellant within the meaning of Section 271B of the Act, as there was reasonable cause for the assessee for not complying with the provisions of Section 44AB of the Act within the meaning of Section 271B of the Act. Accordingly I cancel the penalty of Rs. 20,373 retained by the DC (Appeals), which shall be refunded to the appellant if already collected from them.
B.P. Bajoria vs Commissioner Of Income-Tax on 8 July, 1981
16. When I examine the facts of the present case, in the light of this decision of the Calcutta High Court and the decisions of the Bombay and Orissa High Courts referred to above, it would be seen that there was reasonable cause for the assessee within the meaning of Section 271B of the Act for not filing the tax audit report as required under Section 44AB of the Act. At the worst, it would only be a technical or venial breach of the provisions of Section 44AB as the assessee's accounts have been accepted by the AO in the assessment order as discussed above on the basis of the statements prepared from the accounts regularly maintained by the assessee and as certified by its Chartered Accountants.
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