https://www.taxtmi.com/caselaws?id=263075 The High Court upheld the Tribunal's decision, ruling that the assessee had a reasonable cause for the cash loan, which was genuine and properly recorded. The application of Section 273B was deemed appropriate, and thus, no penalty under Section 271D was deemed necessary. The department's appeals were dismissed as no significant legal issues were identified. en-us Fri, 21 Aug 2015 00:00:00 +0530 Sat, 05 Mar 2016 16:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263075 The High Court upheld the Tribunal's decision, ruling that the assessee had a reasonable cause for the cash loan, which was genuine and properly recorded. The application of Section 273B was deemed appropriate, and thus, no penalty under Section 271D was deemed necessary. The department's appeals were dismissed as no significant legal issues were identified. Case-Laws Income Tax Fri, 21 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263075