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2018 (6) TMI 835 - AT - Income TaxRight to file an appeal before CIT(A) where the application for revision u/s 264 rejected by the CIT - Revisional jurisdiction of Commissioner - Whether the assessee can file an appeal before the appellate authority - Held that:- Following the judgment of Madras High Court in COMMISSIONER OF INCOME TAX VERSUS D. LAKSHMINARAYANAPATHI [1998 (12) TMI 12 - MADRAS HIGH COURT] it is held that even though for invoking revisional jurisdiction, it is a pre-condition that the appellate jurisdiction should not have been invoked. There is no bar for filing appeal when the assessee has invoked revisional jurisdiction. Notwithstanding unsuccessful effort of the assessee in the revisional proceeding, still the assessee can file an appeal - thus assessee invoked revisional jurisdiction u/s 264 of the Act, it cannot constitute a bar for invoking the appellate jurisdiction Penalty levied u/s 221 for default in payment of self assessment tax - good and sufficient reason for default - Held that:- Assessee admittedly paid the tax belatedly along with interest under Section 234A, 234B and 234C of the Act - When the assessee has availed overdraft facility from the bank and exceeded the limit sanctioned by the bank and the assessee has no liquid cash to make the self assessment tax, this Tribunal is of the considered opinion that there is a good and sufficient reason for not making payment of self assessment tax. Therefore, in view of the second proviso to Section 221, there cannot be any levy of penalty - Decided in favor of assessee.
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