2005 (6) TMI 30

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....ial years 1988-89 to 1992-93. As per the provisions of section 285B, he was required to file the statement in Form No. 52A for each of the assessment year, within 30 days from the expiry of the financial year. Failure to file such statement leads to imposition of penalty under section 272A(2) of the Income-tax Act, 1961. As the respondent failed to submit the statements, the show-cause notice dated January 28,1993, was issued and was served on him on February 3, 1993. He submitted the statements on March 2, 1993. As no reasons were specified for not filing the statement, another notice dated March 9, 1993 was issued. In response to the said notice, he explained that it was his first and last venture which had flopped and due to the ignoranc....

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.... the appellant vehemently contended that ignorance of law is no excuse. However, in Motilal Padampat Sugar Mills Co. Ltd. v. State of Uttar Pradesh [1979] 118 ITR 326, the Supreme Court observed as under: "Moreover, it must be remembered that there is no presumption that every person knows the law. It is often said that every one is presumed to know the law, but that is not a correct statement: there is no such maxim known to the law. Over a hundred and thirty years ago, Maula J. pointed out in Martindale v. Falkner [1846] 2 CB 706: 'There is no presumption in this country that every person knows the law: it would be contrary to common sense and reason if it were so...' Scrutton L.J. also once said: 'It is impossible to know all the stat....