Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2012 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (7) TMI 643 - GUJARAT HIGH COURTPenalty u/s. 272B read with rule 114B and 114D - default in not complying with the provision of 139A of the Act - bank manager was unable to produce requisite material particularly proof of address and permanent account number of many account holders and depositors in FD - belated production of documents - Held that:- The explanation given by the respondent assessee of late production of these documents after a fortnight was found justifiable by the Tribunal. Therefore, it clearly held that this was not a case where by the non-production of material at the relevant time rendered back liable for the penalty under section 272(B). - Decided in favor of assessee.
|