https://www.taxtmi.com/caselaws?id=220002 The Tribunal allowed all appeals of the assessee and dismissed all appeals of the Revenue. The additions for alleged repayment of loans and interest were deleted, and penalties under Sections 271D and 271E were canceled. The Tribunal found the AO's presumptions lacked corroborative evidence and ruled penalties unjustified due to lack of proof of cash transactions. en-us Fri, 21 Sep 2012 00:00:00 +0530 Sat, 05 Jan 2013 09:07:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220002 The Tribunal allowed all appeals of the assessee and dismissed all appeals of the Revenue. The additions for alleged repayment of loans and interest were deleted, and penalties under Sections 271D and 271E were canceled. The Tribunal found the AO's presumptions lacked corroborative evidence and ruled penalties unjustified due to lack of proof of cash transactions. Case-Laws Income Tax Fri, 21 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220002