https://www.taxtmi.com/caselaws?id=117023 The Judge upheld the Commissioner's decision to cancel the penalty under section 271D for contravention of provisions of section 269SS. The Judge emphasized the genuine nature of the transactions between family members, ruling that they were akin to loans and not aimed at tax evasion. Referring to Circular No. 387, the Judge dismissed the Revenue's appeals, stating there was no interference warranted due to the absence of tax evasion and clear identification of the parties involved. en-us Thu, 17 Apr 2003 00:00:00 +0530 Tue, 19 Jun 2012 16:28:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117023 The Judge upheld the Commissioner's decision to cancel the penalty under section 271D for contravention of provisions of section 269SS. The Judge emphasized the genuine nature of the transactions between family members, ruling that they were akin to loans and not aimed at tax evasion. Referring to Circular No. 387, the Judge dismissed the Revenue's appeals, stating there was no interference warranted due to the absence of tax evasion and clear identification of the parties involved. Case-Laws Income Tax Thu, 17 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117023