Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (3) TMI 541 - AT - Income TaxPenalty u/s 271E r.w.s 274 - undisclosed source of cash payment - Held that:- We find that the fact that Sh. Harish Bindal and Smt. Sunita Bindal had a violent acrimonious relationship is evidence on record which has not been disputed by the Revenue. The reference to the incidents set out in the police complaint made by Smt. Sunita Bindal read out by the Ld. AR citing instances of mental and physical harassment necessitating seeking police protection and intervention has not been rebutted by the Revenue. The correctness of the same has not been assailed. In these peculiar facts and circumstances in the face of the turmoil in the family can constitute a reasonable cause. The source of cash payment on facts has been explained by the assessee and is not disputed. In these peculiar facts in the absence of any rebuttal or the evidences relied upon, we are of the view that in terms of provisions of section 273B of the Act, the assessee has successfully demonstrated the existence of a reasonable cause as envisaged by the said section. Thus accepting the explanation the penalty is directed to be quashed.- Decided in favour of assessee.
|