https://www.taxtmi.com/caselaws?id=256987 The ITAT upheld the CIT(A)'s decisions to delete penalties under Sections 271D and 271E for violations of Sections 269SS and 269T. The Tribunal ruled that journal entries, transactions between partners and firms, payments via non-negotiable pay orders, and family transactions did not breach the sections. Citing precedents, the Tribunal emphasized that journal entries do not constitute actual transactions, partners and firms are not distinct entities, non-negotiable pay orders are akin to account payee instruments, and family transactions with disclosed accounts and no tax implications are exempt from penalties. The Revenue's appeals were rejected. en-us Fri, 16 Jan 2015 00:00:00 +0530 Mon, 08 Jun 2026 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256987 The ITAT upheld the CIT(A)'s decisions to delete penalties under Sections 271D and 271E for violations of Sections 269SS and 269T. The Tribunal ruled that journal entries, transactions between partners and firms, payments via non-negotiable pay orders, and family transactions did not breach the sections. Citing precedents, the Tribunal emphasized that journal entries do not constitute actual transactions, partners and firms are not distinct entities, non-negotiable pay orders are akin to account payee instruments, and family transactions with disclosed accounts and no tax implications are exempt from penalties. The Revenue's appeals were rejected. Case-Laws Income Tax Fri, 16 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256987