Bank refusal to accept compulsory deposits: penal provisions not invoked when officer is satisfied of bank non-acceptance. Where an assessee could not make the mandatory deposit by the prescribed date because banks refused to accept deposits from non-account holders, the Board directed that penal provisions under the Compulsory Deposit Scheme should not be invoked if there is evidence satisfactory to the Income-tax Officer that bank non-acceptance caused the delay, and instructed officers to apply this guidance uniformly.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Bank refusal to accept compulsory deposits: penal provisions not invoked when officer is satisfied of bank non-acceptance.
Where an assessee could not make the mandatory deposit by the prescribed date because banks refused to accept deposits from non-account holders, the Board directed that penal provisions under the Compulsory Deposit Scheme should not be invoked if there is evidence satisfactory to the Income-tax Officer that bank non-acceptance caused the delay, and instructed officers to apply this guidance uniformly.
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