9911796707
TMI Blog2013 (5) TMI 698X X X X Extracts X X X X X X X X Extracts X X X X ..... to sales effected to southern States and due to calamity, their payments were delayed. Attempt made to obtain additional working capital loan from its bankers also did not materialize - Held that:- There is no finding that payment in respect of the turnover for the month in question was used during the month in question or even in the subsequent months, but prior to payment of tax due in regard th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entical issue on identical facts and, accordingly, these are decided together. 2. There is no dispute that in terms of the rules, revisionist was required to submit return within a month in respect of turnover for the previous month. In other words, for the turnover for the month of April, the return was required to be submitted by the last date of the succeeding month of May. The rules require ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tates and due to calamity, their payments were delayed by the buyers, resulting in non-availability of appropriate funds for meeting the tax liabilities on time. Attempt made by the revisionist to obtain additional working capital loan from its bankers to tide over the situation, also did not materialize within time and, accordingly, there was reasonable cause for failure to deposit tax on time. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n be treated as reasonable cause for failure to deposit tax on time. While this aspect of the matter was not gone in by the Appellant Authority, the Tribunal has also failed to go into that aspect of the matter. 3. We, accordingly, while allow the revision applications, and thereby, set aside the order of the Tribunal as well as the order of the Appellate Authority, remit back the matter to the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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