TaxTMI 
TaxTMI 
2023 (9) TMI 432
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.... 1961 (for short 'Act'), dated 28.12.2018 for A.Ys. 2012-13, 2013-14 & 2015-16. As common issues are involved in the appeals mentioned above, the same are being taken up and disposed of together by way of a consolidated order. 2. We shall take up the appeal in ITA No.251/RPR/2022 for the assessment year 2012-13 as the lead matter, and the order therein passed shall apply mutatis-mutandis to the remaining cases. The assessee has assailed the impugned order of the CIT(Appeals) on the following grounds of appeal: "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 R....
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....n of the mode prescribed under law. In reply, the assessee claimed that as the financer had insisted on cash repayment of loan installments, therefore, for the said reason, she was constrained to make payments in cash to the collection agents of the financer who would issue receipts in lieu thereof. To fortify her aforesaid claim, the assessee submitted a letter dated 05.11.2022 issued by M/s. Tata Finance Corporation Pvt. Ltd., wherein the latter had insisted on repayment of loans in cash. Based on the aforesaid facts, the assessee claimed that as there was a reasonable cause for not making payments through cheques, and she had also remained ignorant of the provisions of section 269T of the Act, therefore, in all fairness, no penalty was l....
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.... with the order of the CIT(A), has carried the matter in appeal before us. 9. We have heard the ld. Authorized Representatives of both the parties, perused the orders of the lower authorities and the material available on record, as well as considered the judicial pronouncements that have been pressed into service by the Learned Authorized Representative (for short 'AR') for the assessee to drive home his contentions. 10. The Ld. AR for the assessee, at the very outset of the hearing of the appeal, had fairly admitted that the issue involved in the present appeal was squarely covered against the assessee by the order passed by Tribunal involving identical facts in the case of her relative viz., Sandeep Kaur Gill Vs. JCIT (Range-3), Raipur....
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....d the specified advance], [or by use of electronic clearing system through a bank account [or through such other electronic mode as may be prescribed]....................................................." 14. On a perusal of the aforesaid statutory provision, the same contemplates the prescribed modes for repayment of a loan exceeding the specified amount, viz (i). vide account payee cheque; (ii). vide account payee bank draft; (iii) use of the electronic system through a bank account; and (iv) through such other electronic mode as may be prescribed. Based on the aforesaid multiple methods 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 rec....
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....ll, had been vacated by the CIT(A), NFAC, we are of a firm conviction that as the facts involved in every case stand on their independent footing, therefore, her claim above would be of no assistance. 17. Based on our observations above, we are of the considered view that as the assessee had not only failed to comply with the provisions of section 269T of the Act, which therein had rendered her liable for imposition of penalty u/s. 271E of the Act but had also failed to come forth with any reasonable cause which had prevented her from making repayment of the monthly installments of her outstanding loans in a manner prescribed under the law, therefore, finding no infirmity in the imposition of penalty of Rs. 14,59,688/- u/s 271E of the Act ....