ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE- SATNA vs. SHRI JAMMU BEG,

In the result, the levy of penalty is cancelled and the appeal of the appellant is allowed

Bench: Shri Om Prakash Kant & Shri Pavan Kumar Gadaleacit, Vs. Shri Jammu Beg, Satna, M/S Mirza Transport, Madhya Pradesh. Main Road, Waidhan, Singrauli. Madhya Pradesh.

house. In normal course, the exigency in making cash payments for such expenses cannot be ruled out Where the explanation of the assessee that violation of provisions of s. 269SS was due to certain bona fide belief of the assessee is found to be acceptable, penalty under s 27D is untenable. [CIT vs. Saini Medical Store