https://www.taxtmi.com/caselaws?id=236193 The court upheld the imposition of penalties under Section 271D, dismissing the appellant's appeal. It affirmed that the penalties were justified despite the absence of malafide intent or revenue loss. The court emphasized the importance of compliance with Section 269SS for financial transparency and upheld the tribunal's decision based on lack of reasonable cause and failure to substantiate claims of urgency. Compliance with statutory provisions was deemed essential, leading to the affirmation of penalties under Section 271D. en-us Mon, 12 Aug 2013 00:00:00 +0530 Fri, 16 Aug 2013 12:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236193 The court upheld the imposition of penalties under Section 271D, dismissing the appellant's appeal. It affirmed that the penalties were justified despite the absence of malafide intent or revenue loss. The court emphasized the importance of compliance with Section 269SS for financial transparency and upheld the tribunal's decision based on lack of reasonable cause and failure to substantiate claims of urgency. Compliance with statutory provisions was deemed essential, leading to the affirmation of penalties under Section 271D. Case-Laws Income Tax Mon, 12 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236193