https://www.taxtmi.com/caselaws?id=211105 The Tribunal ruled that penalties under Sections 271E and 271D could not be imposed on the assessee company as the transactions were carried out by the directors individually. Therefore, both penalties were removed, and the appeals were granted. en-us Thu, 19 May 2011 00:00:00 +0530 Sat, 03 Mar 2012 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211105 The Tribunal ruled that penalties under Sections 271E and 271D could not be imposed on the assessee company as the transactions were carried out by the directors individually. Therefore, both penalties were removed, and the appeals were granted. Case-Laws Income Tax Thu, 19 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211105