9911796707
TMI Blog2015 (4) TMI 1194X X X X Extracts X X X X X X X X Extracts X X X X ..... ar penalty of Rs. 1,05,300 imposed in the case of NTPC Branch to the extent of Rs. 35,100. 2. The assessees in the present case are the Branches of State Bank of India. Notices under section 133(6) of the Act were issued by the A.O. to both the assessees calling for information in respect of specific areas as under : Date of Notice Code No. Code under which information was called for 27.09.2010 Code No.003 Time deposits exceeding Rs. 2 lakhs with banking company 27.09.2010 Code No.006 Payment in cash for purchase of bank drafts or pay orders or bankers' cheque from a banking company of an amount aggregating to Rs. 1,00,000 or more during any one day. 27.09.2010 Code No.007 Deposit in cash aggregating Rs. 2,00,000/- or more, w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 15.10.2011. It was contended on behalf of the assessee before the Ld. CIT(A) that there was thus a reasonable cause for the delay on the part of the assessee to furnish the required information in response to the notices issued under section 133(6) the said delay not being intentional or willful, penalties imposed by the A.O. under section 272A(2)(c) were not justified. 4. After taking into consideration the submissions of the assessees as well as the material available on record before him, the Ld. CIT(A) restricted penalty of Rs. 1,05,300 to Rs. 35,100 in the case of NTPC Branch vide paragraph No.5 of his impugned order as under : "5. A penalty for non-compliance to notice should basically look into the following questions : (a) Wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd e-mails exchanged between the two assessees which are the branches of the State Bank of India with their Head Office/Regional Office. He has contended that proper and sufficient opportunity however was not given to the assessees either by the A.O. or by the Ld. CIT(A) to produce the said evidence. He has urged that one more opportunity may therefore, be given to the assesees to support and substantiate its case of sufficient cause pleaded before the Ld. CIT(A) by producing the relevant evidence. Since the learned D.R. has also not raised any serious objection in this regard, we restore the matter to the file of the A.O. for the limited purpose of giving one more opportunity to the assessees to support and substantiate their case of suffi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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