https://www.taxtmi.com/caselaws?id=103316 The tribunal dismissed the appeal, upholding the CIT(A)'s decision to cancel the penalty under section 271D of the Income-tax Act, 1961. The tribunal emphasized the technical nature of the default and the absence of loss to government revenue due to cash deposits accepted from agriculturists without bank accounts, aligning with the Supreme Court's interpretation that such violations were venial and did not warrant a penalty. en-us Mon, 08 Jul 2002 00:00:00 +0530 Wed, 22 Feb 2012 13:21:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103316 The tribunal dismissed the appeal, upholding the CIT(A)'s decision to cancel the penalty under section 271D of the Income-tax Act, 1961. The tribunal emphasized the technical nature of the default and the absence of loss to government revenue due to cash deposits accepted from agriculturists without bank accounts, aligning with the Supreme Court's interpretation that such violations were venial and did not warrant a penalty. Case-Laws Income Tax Mon, 08 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103316