which was filed under Section 139(1) or in response to notice issued
under Section 142(1) but Section 271B was not attracted where ... under sub-section (1) of section 139 or in response to
any notice under clause (i) of sub-section (1) of
section
incomplete as per provisions of Section 44AB of the Act.
The assessing officer initiated penalty proceedings under Section
271B of the Act and vide order ... that on a similar
account, the penalty which was levied under section 271B for the
assessment year 1990-91, the same explanation was found
facts and circumstances of the case,
imposing of penalty under Section 271B of the Act was
justified?
Income Tax Appeal ... confirmed the penalty
imposed on the appellant-assessee under Section 271B of the Act.
The assessing officer passed assessment order dated 13.11.1990
directing initiation
deleting the penalty
imposed by the Assessing Officer under Section 271B by
holding that the proceedings are barred by limitation
within the meaning of Section ... terms of the
provisions of Section 44AB of the Act, led to initiation of proceedings
against him under Section 271B
MITTAL, J.
1. In the instant appeal filed by the assessee under Section
260A of the Income Tax Act, 1961 (in short ... further
ordered for initiation of penalty under Section 271B and interest under
Sections 234B and 234C . Feeling aggrieved, the assessee preferred
an appeal before
premises of the petitioner under Section
133A of the Act and impounded certain documents and books of
account. Section 133A(3)(ia) provides for return ... absence of which the assessee is liable to penalty
under Section 271B of the Act. In these circumstances, retention
of books of account
levied by the AO on the
assessee u/s 271B although the assessee had clearly
violated the provisions of section 44AB by not getting ... respect of one concern. The Assessing
Officer levied penalty under Section 271B of the Act, which was
affirmed by the CIT(A). The Tribunal, however
