https://www.taxtmi.com/caselaws?id=68580 The Appellate Tribunal upheld the CIT(A)'s decisions to delete penalties under sections 271D and 271E of the Income Tax Act. The Tribunal considered the assessee's ignorance and lack of awareness, along with the absence of deliberate defiance, as reasonable causes for the violations of sections 269SS and 269T. Consequently, the penalties for accepting cash deposits exceeding limits and making cash repayments were both deleted, emphasizing the significance of reasonable cause in penalty imposition. en-us Wed, 09 Nov 2005 00:00:00 +0530 Sat, 03 Sep 2011 18:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68580 The Appellate Tribunal upheld the CIT(A)'s decisions to delete penalties under sections 271D and 271E of the Income Tax Act. The Tribunal considered the assessee's ignorance and lack of awareness, along with the absence of deliberate defiance, as reasonable causes for the violations of sections 269SS and 269T. Consequently, the penalties for accepting cash deposits exceeding limits and making cash repayments were both deleted, emphasizing the significance of reasonable cause in penalty imposition. Case-Laws Income Tax Wed, 09 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68580