IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (LDG.) NOS. No. Appellant s Name Respondents Name 2530/09 The Commissioner of Income Tax Universal Education Trust 2531/09 The Commissioner of Income Tax Universal Education Trust 2532/09 The Commissioner of Income Tax Universal Education Trust 2533/09 The Commissioner of Income Tax Universal Education Trust 2534/09 The Commissioner of Income Tax Universal Education Trust 2536/09 The Commissioner of Income Tax Universal Education Trust 2537/09 The Commissioner of Income Tax Universal Education Trust 2538/09 The Commissioner of Income Tax Universal Education Trust 2539/09 The Commissioner of Income Tax Universal Education Trust 2540/09 The Commissioner of Income Tax Universal Education Trust 2541/09 The Commissioner of Income Tax Universal Education Trust Vimal Gupta for the appellant. CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ. DATED : 24th November 2009. P.C. : Office objections are over-ruled. Office to register the appeals. All appeals are taken up for hearing at the request of learned counsel for the appellant. 2. The question sought to be raised in all these appeals revolves sections 272A(2)(c) and 273B of the Income Tax Act. We were taken through the impugned order by the learned counsel appearing for the appellant- revenue. The reasonable cause sought to be shown by the respondent- assessee has been dealt with by the Tribunal and discussed in para-6.1 of the impugned order, reading as under: 6.1. There is decision directly on the issue by respected co-ordinate bench, Cochin in the case of ITO vs. Muthoot Financiers [2006]..286 ITR (AT) 71 (Cochin) wherein it was held that the penalty provisions are governed by section 273B of the said defaults are initial burden is on the assessee so show that there existed reasonable cause. Only if the cause shown is found to be frivolous, without substance or foundation would follow the consequence. As we have seen from the detailed explanation in respect of bonafides as reproduced hereinabove the appellant had reasonable clause of non deduction of tax at source, therefore, considering the nature of default and also the compliance made thereafter by making the payment of tax along with the interest we find no reason to further penalize this educational trust being covered by the exception prescribed u/s 273B of I.T. Act. 3. Having gone through the reasoning given and the view taken by the Tribunal, it is not possible to hold that the view taken is a perverse view. It is a reasonable and possible view with which no fault can be found. The findings recorded by the Tribunal are based on appreciation of evidence and material on record. In this view of the matter, all the appeals are dismissed for want of substantial question of law with no order as to costs. (J.P.DEVADHAR, J.) (V.C.DAGA J.)