https://www.taxtmi.com/caselaws?id=253157 The tribunal upheld the penalty under Section 271E for violation of Section 269T, dismissing the appeal. It determined that the transactions were deposits, not advances, and found no reasonable cause for the cash repayments. The tribunal supported the CIT(A)'s findings, concluding that the appellant's arguments lacked merit. The decision was rendered on February 28, 2014. en-us Fri, 28 Feb 2014 00:00:00 +0530 Wed, 29 Oct 2014 16:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253157 The tribunal upheld the penalty under Section 271E for violation of Section 269T, dismissing the appeal. It determined that the transactions were deposits, not advances, and found no reasonable cause for the cash repayments. The tribunal supported the CIT(A)'s findings, concluding that the appellant's arguments lacked merit. The decision was rendered on February 28, 2014. Case-Laws Income Tax Fri, 28 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253157