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TMI Blog2023 (4) TMI 1249X X X X Extracts X X X X X X X X Extracts X X X X ..... de ourselves to subscribe to the explanation of the assessee that as the financers were not ready to receive the repayment of loans from her vide account payee cheques, therefore, for the said reason she was compelled to make the said payments in cash. Also we do not find any substance in the claim of the assessee that she was unaware of the provisions of section 269T - It is a matter of fact borne from record that the assessee at the relevant point of time was availing the services of a Chartered Accountant and had got her accounts for the year under consideration audited from him. Considering the aforesaid factual position, and independent of the settled position of law that an assessee cannot be allowed to plead ignorance of law, w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the order passed by the JCIT, Range-3, Raipur under Sec.271E of the Income-tax Act, 1961 (in short the Act ) dated 28.12.2018 for assessment year 2015-16. The assessee has assailed the impugned order on the following grounds of appeal before us: 1. On the facts and in the circumstances of the case the CIT(A)-NFAC has erred in confirming the order of the JCIT-Range-3, Raipur wherein the Joint Commissioner of Income Tax,Range-3, Raipur has erred in imposing penalty of Rs.671939/- u/s. 271E of the Income Tax Act, 1961. Thus the order passed by the JCIT-Range-3, Raipur and confirmed by the CIT-A(NFAC) is unjustified, unwarranted and uncalled for and deserves to be deleted. 2. The assessee reserves the right to add, amend or alter any gr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 269T of the Act, therefore, as per the mandate of section 273B of the Act no penalty in all fairness was liable to be imposed upon her u/s. 271E. 4. The JCIT after deliberating on the explanation of the assessee was however not persuaded to subscribe to the same. It was observed by the AO that there was no justification for the assessee to have gone by the instructions of the financers which were in contravention of the provisions of section 269T of the Act. Apart from that, it was observed by the JCIT that even if the concerned financers considering their past experience with the assessee were not ready to receive the payments from the assessee by cheques, then she could have made the said payments as per the other prescribed modes, i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as under:- S.No. Loan against bus No. Repayment amount(Rs.) 1 E-3169-Repaid to M/s. Tata Motors Ltd. 2,84,175/- 2 B-010(Body)-Repaid to M/s. Tata Finance Ltd. 93073/- 3 B-0107(Chasis) Repaid to M/s. Tata Finance Ltd. 2,94,691/- TOTAL 6,71,939/- 9. On a perusal of the reply filed by the assessee, wherein she had explained the reasons for having repaid the aforementioned loans in a manner other than that prescribed u/s. 269T of the Act, we find that the sam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... id multiple modes of repayment of loan as envisaged in section 269T of the Act, we are of the considered view that even if the financers on account of the poor track record of the assessee were not ready and willing to receive the monthly installments towards repayment of loans from her through cheques, then she could have safely made the said repayments by way of account payee bank drafts or electronic clearing system through his bank account or any other prescribed electronic mode as provided in Rule 6ABBA of the I.T. Rules, 1962. We are unable to persuade ourselves to subscribe to the explanation of the assessee that as the financers were not ready to receive the repayment of loans from her vide account payee cheques, therefore, for the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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