9911796707
TMI Blog2022 (5) TMI 1572X X X X Extracts X X X X X X X X Extracts X X X X ..... The appeal preferred by the assessee is, therefore, allowed. - SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND Ms. MADHUMITA ROY, JUDICIAL MEMBER For the Assessee : Shri Mahesh Chhajed , A.R. For the Revenue : Shri R. R. Makwana, Sr. DR. ORDER PER BENCH: The bunch appeals preferred by the assessee are directed against the orders all dated 10.08.2020 passed by the Ld. CIT(A), Gandhinagar arising out of the orders passed by the ITO, Ward-4, Gandhinagar under Section 271E of the Income Tax Act, 1961(hereinafter referred to as the Act ) for A.Ys. 2011-12 to 2016-17 respectively. All the appeals are related to the same assessee and the issue involved therein are identical. Thus, all are heard analogously and are being di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xmann.com 156 (Punjab Haryana). 5. The Ld. DR, however, has failed to controvert such submissions made by the Ld. A.R. 6. We have heard the respective parties and also perused the relevant materials available on record. 7. We find that on the identical set of facts the Punjab and Haryana High Court was pleased observe the following while upholding quashing of penalty by the Tribunal: 3. We have heard learned counsel for the appellant. 4. The only point for consideration in this appeal is whether the assessee had contravened the provisions of Section 269T of the Act by making repayment of loan/deposits of Smt. Kusum Lata Thakral, through account payee cheque or account payee drafts to M/s. Babyloan Builders Pvt. Ltd., Gurga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment u/s. 143(3) of the Act. It was also within the power of the AO at the appropriate stage to initiate proceedings u/s. 147 of the Act against the assessee. No such action was taken. Rather, the penalty was imposed on the basis of the finding in the case of assessee's wife. 6. No error or perversity could be shown in the aforesaid findings recorded by the Tribunal. Moreover, the assessee had taken a plea before the Assessing Officer that there was a reasonable cause for the assessee to have made direct payment of Rs. 14,02,600/- to M/s. Babyloan Builders Private Ltd., Gurgaon. It was pleaded that some of the repayments made by the assessee were inter company transfer for group housing and purchase of flat and at times paymen ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
