COMMISSIONER OF INCOME TAX Vs. SAINI MEDICAL STORE

JUDGEMENT

(1.) THE Revenue has filed the present appeal under s. 260A of the IT Act, 1961 (for short, "the Act"), against the order of the Income -tax Appellate Tribunal, Delhi Bench "B", New Delhi (for short "the Tribunal"), passed in ITA No. 1873/Delhi/ appeal : "Whether, on the facts and circumstances of the case, the Hon'ble Tribunal was right in law in dismissing the appeal of the Department and uphold the action of the CIT(A) in cancelling the order of penalty under s. 271E of the IT Act, 1961, imposing a penalty of Rs. 1,71,800 by the Dy. CIT, Hisar -

(2.) THE facts leading to the filing of the present appeal are that the ITO, Ward -2, Jind, vide his office letter No. 844, dt. contravened the provisions of s. 269T of the Act during the financial year 1992 -93 relevant to the asst. yr. 1993 -94 by making repayment of loan/deposits in cash to the following persons as per the details given below : Sr. No. Name of the person Amount (Rs.) Total (Rs.) Date of repayment (1) (2) (3) (4) (5) 1. Shri Banwari Lal 10,000 10,000 26 -11 -1992 2. Shri Puran Chand Saini 20,000 31 -7 -1992 11,800 31,800 2.SHRI Mohinder lal 10,000 26 -11 -1992 10,000 20,000 27 -11 -1992

(2.) A show -cause notice under s. 274 r/w s. 271E of the Act was issued to the assessee. The then Dy. CIT, Hisar Range, repaid in cash by the assessee -firm.