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TMI Blog2016 (7) TMI 1334X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeals filed by Revenue against the order of learned CIT(A), Bathinda, dated 28.01.2016 for Asst. Year 2007-08. 2. The Revenue in these appeals is aggrieved by the action of learned CIT(A), by which he had deleted the penalties imposed by Assessing Officer u/s 271D & 271E of the Act. 3. The brief facts of the case as noted in the impugned order are that the assessee is operating as commission ag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... present on behalf of both parties. However, considering the issue and material on record we decided to dispose off these appeals. 5. While going through the material placed on record, we find that in the second round of appellate proceedings before learned CIT(A), the learned CIT(A) remanded the issue back to Office of Assessing Officer. The Assessing Officer in his remand report submitted that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecise definition, for, as held by the Hon'ble Delhi High Court in the case of Azadi Bachao Andolan versus Union of India [2001] 252 ITR 471, attempting to give a specific meaning to the word "reasonable" is trying to count what is not number and measure what is not space. Ordinarily, reasonable cause would mean an honest belief founded upon reasonable grounds of the existence of a state of circums ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eedings found the creditors to be genuine agriculturists and their cash transactions also to be to be genuine, in as much as there was a confirmation of the money having been deposited and returned. The said impugned transactions also cannot be said to have been aimed at or attempting to evade tax, thereby causing loss to revenue. In such circumstances, it can reasonably be held that the breach of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arned CIT(A) has made a finding of fact that creditors from whom cash was received and cash was repaid were genuine and he has also made a finding of fact that a confirmation to that fact was obtained from these persons and the transactions were not made for attempting to evade tax, therefore, he held that there was a reasonable cause for entering into such transactions. The learned CIT(A) has pas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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