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TMI Blog2015 (10) TMI 1436X X X X Extracts X X X X X X X X Extracts X X X X ..... PER GEORGE MATHAN : 1. ITA No. 46/PNJ/2014 is an appeal filed by the Assessee against the order of CIT(A), Belgaum in ITA No. 489/BGM/2009-10 dt. 18.11.2013 for the A.Y 2007-08 and ITA No. 248/PNJ/2014 is an appeal filed by the Assessee against the order of CIT(A), Belgaum in ITA No. 490/BGM/2009-10 dt. 22.5.2014 for the A.Y 2008-09. Shri V.K. Gurunathan, Adv. represented on behalf of the Assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... count had accounted only the commission. It was the submission that the total freight received by the Assessee was never accounted in the books of accounts of the Assessee but was maintained in a separate account called 'Freight payable' account separately and the same was directly paid to the various truck operators. It was the submission that the Assessee was of the bona fide belief that as the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase of Mukesh Choksi reported in 2011-TIOL 234, ITAT Mumbai, who was an accommodation entry provider to hold that the levy of penalty on the Assessee was correct. It was the submission that the Assessee is not an accommodation entry provider and the business of the Assessee was not in any way connected with accommodation entry providing. It was the further submission that the reliance made by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rately maintained which contains the details of the 'Freight payable' which is received by the Assessee and which is disbursed by the Assessee. This being so, the claim of the Assessee that he was under reasonable and bona fide belief that his turnover did not exceed Rs. 40 lacs is clearly a bona fide claim on which no penalty is leviable u/s 271B. 6. Coming to the finding of the ld. CIT(A) that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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