9911796707
TMI Blog2014 (4) TMI 746X X X X Extracts X X X X X X X X Extracts X X X X ..... ) : This is an appeal filed by the assessee against the order of CIT(A), dated 3-2-2012 for the assessment year 2007-08, in the matter of imposition of penalty under Section 271(1)(c) of the I.T. Act. Heard on condonation of delay 2. This appeal is barred by three days. Learned AR has filed an affidavit of Shri Ajay S Singhal, Director of M/s Plaza Casting Pvt. Ltd.(now known as JMD Casting Pvt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection 271(1)(c). 6. It was contended by the learned AR that assessee has provided PAN Number and address of the loan creditors to the AO. However, due to non-cooperation of the creditors their confirmation could not be filed. As per learned AR since the assessee has filed the PAN Number and the address of the loan creditors and it was incumbent on the AO to satisfy himself about the genuineness ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of penalty under Section 271(1)(c) of the I.T. Act. 9. We have considered rival contentions, gone through the orders of the authorities below and found from the record that assessee has given loan to three persons as mentioned by AO at page 1 of his order. Even though assessee has filed the PAN Number, but the confirmation of the respective creditors could not be filed. By not filing the loan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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