https://www.taxtmi.com/caselaws?id=67630 The appeal was partly allowed, with penalties upheld for one transaction while penalties for the other two transactions were set aside due to reasonable cause. The AO was directed to recompute the penalty only for the third amount of Rs. 40,000. en-us Tue, 23 Feb 1999 00:00:00 +0530 Sat, 12 Mar 2011 10:41:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67630 The appeal was partly allowed, with penalties upheld for one transaction while penalties for the other two transactions were set aside due to reasonable cause. The AO was directed to recompute the penalty only for the third amount of Rs. 40,000. Case-Laws Income Tax Tue, 23 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67630