https://www.taxtmi.com/caselaws?id=71658 The Tribunal upheld penalties under Section 271D for contravention of Section 269SS against the advocate assessee for accepting cash loans exceeding Rs. 20,000 without reasonable cause. The Tribunal deemed the assessee's admission during the search, lack of retraction, and seized documents as adequate proof of the violations. It rejected the assessee's arguments on definitions, reasonable cause, and judicial precedents, affirming the penalties imposed by the CIT(A) for various assessment years. The Tribunal emphasized the sufficiency of evidence based on the admitted transactions and upheld the penalties without finding any flaws in the lower authority's decision. en-us Fri, 13 Sep 2002 00:00:00 +0530 Tue, 26 Apr 2011 13:28:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71658 The Tribunal upheld penalties under Section 271D for contravention of Section 269SS against the advocate assessee for accepting cash loans exceeding Rs. 20,000 without reasonable cause. The Tribunal deemed the assessee's admission during the search, lack of retraction, and seized documents as adequate proof of the violations. It rejected the assessee's arguments on definitions, reasonable cause, and judicial precedents, affirming the penalties imposed by the CIT(A) for various assessment years. The Tribunal emphasized the sufficiency of evidence based on the admitted transactions and upheld the penalties without finding any flaws in the lower authority's decision. Case-Laws Income Tax Fri, 13 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71658