https://www.taxtmi.com/caselaws?id=174151 The Tribunal upheld the cancellation of the penalty u/s 271E, ruling that the repayment in cash exceeding Rs. 20,000 was due to advances received for business purposes, not constituting a loan or deposit under section 269T. The Tribunal found a reasonable cause for the cash repayment, based on commercial expediency, and dismissed the Revenue's appeal. en-us Fri, 14 Oct 2011 00:00:00 +0530 Thu, 01 Oct 2015 10:41:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174151 The Tribunal upheld the cancellation of the penalty u/s 271E, ruling that the repayment in cash exceeding Rs. 20,000 was due to advances received for business purposes, not constituting a loan or deposit under section 269T. The Tribunal found a reasonable cause for the cash repayment, based on commercial expediency, and dismissed the Revenue's appeal. Case-Laws Income Tax Fri, 14 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174151