TMI Blog2016 (3) TMI 541X X X X Extracts X X X X X X X X Extracts X X X X ..... asonable 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. - ITA No. 6728/Del/2014 - - - Dated:- 14-3-2016 - Shri J. Sudhakar Reddy, Accountant Member And Sh. Sudhanshu Srivastava, Judicial Member For the Appellant : Shri Rakesh Gupta, Adv. Shri Somil Aggarwal, Adv. For the Respondent : Shri P. Dankanunjna, Sr. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sh and he has accepted the receipt of cash against their loan amount.......... 2. Addressing the above letter reproduced in the penalty order, attention was invited to Paper book page No.3. On the basis of the same, it was submitted by the Ld. AR that in the facts of the present case re-opening was done on the basis of tax evasion petition allegedly filed by Sh. B.D.Gupta, some anonymous person, who in fact was Sh. Harish Bindal, who is the near relative of the assessee. The said submission, it was stated, was made before the ACIT vide letter dated 31.12.2012 and is placed at Paper Book page-3. For ready-reference, relevant extract there from is reproduced hereunder:- We bring to your kind notice that repayment of loans in cash i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was submitted that these submissions would address reasonable cause and is relied upon. For ready-reference, relevant extract from the impugned order is reproduced hereunder:- As required by your honour, I am enclosing the following documents for reasonable cause as provided u/s 273B of I.T. Act:- 1. Copy of Bank statement of Jay Industries from where the cash was withdrawn and paid to Mr. Harish Bindal and Mr. Tarun Bindal. 2. Copy of Drawing A/c of the Assessee where Account of the Assessee was debited on the day of cash payments to Harish Bindal and Tarun Bindal is son of Mr. Harish Bindal. 3. Mr. Harish Bindal is a brother-in-law of the assessee who insisted for cash payment due to long dispute in family (copy of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able on record. Considering the same, 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 f ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
