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Penalty levied u/s 271DA - The Addl. CIT observed that the assessee had violated Section 269ST by splitting invoices for cash receipts of Rs. 2,00,000 or more from a single person. - The Appellate Tribunal noted that the items purchased were marriage dresses and different in nature. - Section 271DA prescribes penalties for contraventions of Section 269ST. The legislative intention behind the introduction of Section 269ST was to discourage cash transactions and promote digital economy. The Tribunal referred to judicial precedents, emphasizing that penalties may not be imposed for technical or venial breaches of the Act. It considered the definitions of 'good cause' and 'sufficient cause,' as well as relevant case laws to determine the applicability of penalties. - The Tribunal concluded that no penalty was leviable.
Penalty levied u/s 271DA - The Addl. CIT observed that the assessee had violated Section 269ST by splitting invoices for cash receipts of Rs. 2,00,000 or more from a single person. - The Appellate Tribunal noted that the items purchased were marriage dresses and different in nature. - Section 271DA prescribes penalties for contraventions of Section 269ST. The legislative intention behind the introduction of Section 269ST was to discourage cash transactions and promote digital economy. The Tribunal referred to judicial precedents, emphasizing that penalties may not be imposed for technical or venial breaches of the Act. It considered the definitions of 'good cause' and 'sufficient cause,' as well as relevant case laws to determine the applicability of penalties. - The Tribunal concluded that no penalty was leviable.
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