In the result, appeal filed by the Revenue is dismissed
Bench: Shri Sandeep Gosain, Hon'Ble & Shri O.P.Meena, Hon'Bleआ.अ.सं./I.T.A No.612/Ahd/2016 "नधा"रण वष"/Assessment Year: 2010-11 The Income Tax Officer, Vs. Shree Madhi Surali Vibhag Nagrik, Ward-1, Bardoli. Sahakari Dhiran Mandli Ltd., Madhi, Tal.Bardoli, Dist: Surat. [Pan: Aadas 5644 L] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओरसे /Assessee By Shri Shaunak Zaveri– Ca & Shri Yogesh Gamit - Advocate राज"वक"ओरसे /Revenue By Shri Sreenivas T.Bidari – Cit-Dr
273B providing that no penalty would be leviable if the person concerned proves that there is reasonable cause for the said failure clearly indicates that these provisions given a discretion to the authority to impose the penalty or not to impose the penalty. Such discretion has to be exercised in a just and fair manner having regard to the entire