COMMISSIONER OF INCOME TAX Vs. RATNA AGENCIES

JUDGEMENT

(1.) THE above tax case appeals are directed against the order of the Income-tax Appellate Tribunal dated 3.4.2002 made in ITA.Nos.2565 & 2566(Mds)/1991 respectively.

(2.) THE Revenue is the appellant. THE assessment year involved in the present appeals is 1989-1990.

(3.) CONSEQUENTLY, we answer the question in the affirmative against the revenue and in favour of the assessee, that in the facts and circumstances of the case, the Tribunal was right in holding that the penalty under Section 271D and 271E cannot be imposed for violation of Section 269SS and 269T of the Act. Accordingly, the appeals are dismissed. No costs.