https://www.taxtmi.com/caselaws?id=221917 The Court dismissed both Tax Appeal No.2664 of 2010 and Tax Appeal No.2665 of 2010 under Section 260-A of the Income Tax Act. The Tribunal and CIT (Appeals) found technical violations but concluded penalties were unjustified due to reasonable cause shown by the assessee in cash transactions with family members for genuine purposes. The Court upheld the lower authorities' decisions, as no substantial legal questions were raised, leading to the dismissal of both appeals. en-us Tue, 07 Feb 2012 00:00:00 +0530 Fri, 05 Apr 2013 22:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221917 The Court dismissed both Tax Appeal No.2664 of 2010 and Tax Appeal No.2665 of 2010 under Section 260-A of the Income Tax Act. The Tribunal and CIT (Appeals) found technical violations but concluded penalties were unjustified due to reasonable cause shown by the assessee in cash transactions with family members for genuine purposes. The Court upheld the lower authorities' decisions, as no substantial legal questions were raised, leading to the dismissal of both appeals. Case-Laws Income Tax Tue, 07 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221917