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5. That appellant craves to add or amend any ground of appeal before the appeal is finally heard or disposed-off.

6. That the order may kindly be modified or another consequential relief be allowed."

15. Succinctly stated, on the basis of information received by the JCIT, Range-II, Amritsar from the ITO, Ward 2(3), Batala, that the assessee during the year under consideration, i.e, on 22.11.2008 had returned a loan of Rs.6,00,000/- in cash to Sh. Navtej Singh (supra), i.e., in contravention of the provisions of section 269T of the Act, the JCIT issued a SCN dated 17.10.2013, therein following upon the assessee to explain that as to why he may not be subjected to penalty u/s 271E of the Act. As the assessee failed to comply with the aforesaid notice, therefore, another SCN, dated 01.11.2013 was issued to him both through registered post and process server. In compliance, the assessee's counsel, viz. S.K. Bansal, Advocate filed an application seeking adjournment of the case, for the reason that the quantum appeal of the assessee was pending disposal before the CIT(A), and also that the assessee's application u/s 154 was pending before the AO. However, the JCIT being of the view that neither the outcome of the appellate proceedings in the quantum appeal of the assessee nor his application filed u/s 154 before the AO would have any bearing on the adjudication of the issue in hand, therefore, refused to adjourn the matter and proceeded with the same. Observing, that the assessee had not denied the fact of having returned the loans of Rs.6,00,000/- in cash to Sh. Navtej Singh (supra), wherein the latter too had admitted of having received back the loan to the said extent in cash, the JCIT holding a conviction that the assessee had repaid the loan in question in contravention of the provisions of section 269T of the Act, thus, vide his order u/s 271E, dated 14.11.2013 saddled him with a penalty of Rs.6,00,000/-, i.e., 100% of the cash loan that was repaid by him.