2004 (6) TMI 305

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f by this common order for the sake of convenience and brevity. 2. At the time of hearing, Shri U.C. Jain and Shri Rajendra Jain were present on behalf of the assessee and Shri D.N. Pareek was present on behalf of the Department. 3. We have heard the learned rival representatives and have perused evidence on record. 4. In this case, penalty under s. 271(1)(c) of the IT Act, 1961, (hereina....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ht was granted by AO, so penalty cannot be imposed for non-compliance for that date. The learned Authorised Representative has relied on the Tribunal decision in the case of Asstt. CIT vs. K.K. Mansinghka in ITA No. 9207/Bom/1990, dt. 26th July, 1996. The Tribunal in that case, under identical situation, deleted the penalty under s. 271(1)(b) of the Act. The excerpt of the decision are placed at p....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ve has relied on the orders of the authorities below. 7. After due consideration, we are convinced that the case of the assessee is justified. When the AO chose (not) to pass best judgment assessment under s. 144 on the date on which non-compliance by assessee is alleged and particularly when the assessee has sought adjournment for reasons mentioned in the application, this is not a case of non....