https://www.taxtmi.com/caselaws?id=207844 The ITAT dismissed the Revenue's appeal and affirmed the CIT(A)'s decision to delete the penalty under section 271D. The decision was based on consistent legal principles and precedents indicating that penalties should not apply to transactions conducted through journal entries, aligning with previous ITAT rulings and a judgment of the Hon'ble Delhi High Court in a similar case. en-us Fri, 03 Dec 2010 00:00:00 +0530 Wed, 20 Jul 2011 18:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207844 The ITAT dismissed the Revenue's appeal and affirmed the CIT(A)'s decision to delete the penalty under section 271D. The decision was based on consistent legal principles and precedents indicating that penalties should not apply to transactions conducted through journal entries, aligning with previous ITAT rulings and a judgment of the Hon'ble Delhi High Court in a similar case. Case-Laws Income Tax Fri, 03 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207844