Section 272, 274 of Income Tax Act, 1961— In the instant case, AO initiated penalty proceedings u/s 272A and imposed penalty of Rs. 59,400 @ Rs. 100 per day for the period from 07.02.2014 to 23.09.2015 on the ground that the assessee did not furnish the details called for under the notice issued u/s 133(6).

Held that— Since there is no reasonable cause furnished by the assessee or non furnishing of information sought by the ITO(intelligence) u/s 133(6) order imposing penalty cannot be quashed.

On identical facts the Cochin Bench of the Tribunal in the cases of Kakoor Service Co-operative Bank Ltd. (supra) had held that the penalty imposed u/s 272A(2)(c) of the Act is valid. 
we hold that the CIT(A) is justified in upholding the order passed u/s 272A(2)(c) of the Income-tax Act. It is ordered accordingly.[M/S. ALLEPPEY NORTH SERVICE CO-OPERATIVE BANK LIMITED VERSUS THE JOINT DIRECTOR OF INCOME-TAX (I & CI) KOCHI.][2019] 16 ITCD Online (17) [ ITAT COCHIN]