https://www.taxtmi.com/caselaws?id=122036 The Appellate Tribunal ITAT MUMBAI dismissed the Revenue's appeal regarding the penalty imposed under section 271D of the Income-tax Act for the block period 1-4-1990 to 26-9-2000. The Tribunal ruled in favor of the assessee, holding that as the amount in question was treated as undisclosed income during the block assessment, the provisions of section 269SS and section 271D could not be applied. The decision was based on the precedent set by the Hon'ble Delhi High Court, affirming the order of the CIT(A) and rejecting the Revenue's appeal. en-us Fri, 09 Feb 2007 00:00:00 +0530 Thu, 23 Dec 2021 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122036 The Appellate Tribunal ITAT MUMBAI dismissed the Revenue's appeal regarding the penalty imposed under section 271D of the Income-tax Act for the block period 1-4-1990 to 26-9-2000. The Tribunal ruled in favor of the assessee, holding that as the amount in question was treated as undisclosed income during the block assessment, the provisions of section 269SS and section 271D could not be applied. The decision was based on the precedent set by the Hon'ble Delhi High Court, affirming the order of the CIT(A) and rejecting the Revenue's appeal. Case-Laws Income Tax Fri, 09 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122036