TMI Blog2016 (2) TMI 302X X X X Extracts X X X X X X X X Extracts X X X X ..... erred in sustaining the levy of penalty under Section 221(1) without considering sufficient cause shown for the belated payment of self assessment tax under Section 140A for the assessment year in question and without assigning proper reasons and that the 1st respondent has failed to appreciate the unreasonable approach of the 3rd respondent in passing the exparte penalty order even though it was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... alty imposed u/s 221 (1) of the Income Tax Act 1961 relating to the Assessment Year 2014-15, was rejected. 3. The petitioner Company is engaged in the business of manufacture of Indian made foreign liquor and the return of income for the year ended 31.03.2014 relating to assessment year 2014-15 was filed on 31.12.2014, disclosing the taxable total income at ₹ 1,92,45,470/-. The self asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t this juncture, it is pertinent to point out that the petitioner Company has remitted the self assessment tax of ₹ 46,00,000/- on 14.03.2015 and ₹ 19,32,225/- on 24.04.2015. The petitioner has filed their written submissions on 06.10.2015 during the hearing granted to them. However, by the impugned proceedings, the 1st respondent has rejected the same. Hence, the petitioner is before ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... That apart, according to the learned counsel, the 1st respondent is wrong in recording the findings in this regard in paragraph Nos.9 10 of the impugned order, without assigning proper reasons and justification. The learned counsel for the petitioner also drawn the attention of this Court to the several Judgments of the various High Courts in support of his contention. Based on the above, th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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