2013 (10) TMI 1511

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....e (s) : Shri S.N. Divetia ORDER PER SHRI MUKUL Kr. SHRAWAT, JUDICIAL MEMBER : These four appeals have been filed by the assessee arising from the orders of learned CIT(A)-I, Surat, dated 30th June, 2011. For all the years a common ground has been rBack to panel aised in respect of penalty levied u/s. 271C of Rs. 97,157 for A.Y. 2003-04, Rs. 90,172/- for A.Y. 2004-05, Rs. 1,02,825/- for A.....

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....assessee proves that there was a "reasonable cause" for the said default. In the absence of any explanation, the impugned penalty was imposed for the respective assessment years. 3. When the matter was carried before learned CIT(A), it was pleaded that the provisions of Section 273B prescribes that if there is a reasonable cause for the failure to deduct the tax at source then the assessee may ....

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.... Bank, 117 ITD 207 (Ahd) is concerned no dispute was raised. The dispute before us; which was seriously contested; is that whether the assessee has acted upon a bona fide belief or not. Learned AR has pleaded that the decision of Canara Bank (supra) was delivered vide an order dated 15th February, 2008. However, the assessment years involved were A.Ys. 2003-04, 2004-05, 2005-06 and 2006-07; hence,....

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....as acted and under those circumstances the said action was at that point of time not infringed the settled law then it can be reasonably held that the assessee was prevented by a "reasonable cause" under those circumstances not to act as prescribed or determined by a case law subsequently. Although ignorance of law is not an excuse but side by side it is also not expected that every tax payer shou....