TaxTMI 
TaxTMI 
2004 (7) TMI 272
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....server served the appellate orders on Sunday, the 21st day of December, 2003, at assessee's premises. Since assessee's office was closed on Sunday for all administrative and accounting purposes the receipt of the order was communicated to the partners by the security on Monday only. When the assessee consulted its consultant, he informed that the time period available for filing of the appeals before the Tribunal against the orders of CIT(A) is two months. Due to this reason the assessee was under bona fide belief that the last date for filing of the appeals should be 21st Feb., 2004. Accordingly, the assessee sent their person to the office of the Tribunal on 21st Feb., 2004, for filing of the appeals. However, the assessee came to know th....
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....nbsp; 16,000 " -do- 29-7-1998 4,000 " -do- 23-7-1998 10,000 " Shri Kaushik Amin 24-7-1998 15,000 " -do- 6-7-1998 13,500 " Lt. Col.R.S. Chaudhary 13-8-1998 23,500 " -do- ------------------------------------------------- All the above loans were confirmed by the parties and the same was allowed by the AO. Subsequently, the AO put fo....
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....rein the CIT(A) confirmed the action of AO. 4. Before us the learned Authorised Representative opposed the orders of authorities below while the learned Departmental Representative relied on the orders of lower authorities. After considering the rival submissions and going through the material on record, we find that intimation under s. 269 (sic) r/w s. 273B of the Act has been issued and the penalty has been levied as provided under s. 27m. As per s. 273B, no penalty shall be imposable on the person or the assessee as the case may be for any failure referred to in the said provisions if he proves that there was reasonable cause for the said failure. In the case in hand, first three transactions are from Shri Parthiv Zaveri, for whom the....