DESAI RICE MILL Vs. IT OFFICER

JUDGEMENT

(1.) BY way of these appeals, the appellant - assessees have challenged the judgment and order dated 19.06.2003 passed by the Income -tax Appellate Tribunal, Ahmedabad Bench, in ITA No. 1009/Ahd/1999, 1010/Ahd/1999 and 1011/Ahd/1999 for assessment year 1997 -98.

(2.) W hile admitting these appeals on 12.07.2004, this Court has framed the following substantial question of law:

(3.) THE facts of the present case are that the assessees had filed their return of income on 30.03.1998. The assessees however did not file the audit report in time and the Assessing Officer did not accept the reason stated for late filing of the report and accordingly imposed penalty on the assessee u/s 271 B of the Act. The assessees filed appeal before the Commissioner (Appeals) and the CIT(A) upheld the same. On further appeal by the assessees, the Tribunal upheld the order passed by CIT(A) and dismissed the appeal. Being aggrieved by the said order, the present appeals are preferred by the assessees.