https://www.taxtmi.com/caselaws?id=175325 The Tribunal upheld the deletion of a penalty under section 271D imposed on an assessee for violating section 269SS by accepting cash, granting immunity based on section 273B due to urgent business needs, prompt repayment, and lack of intent to conceal income. The Tribunal emphasized the genuine nature of the transaction, business exigency, and clerical errors in the Assessing Officer's order, ultimately dismissing the revenue's appeal and allowing the Cross-objections in favor of the assessee. en-us Thu, 31 Jan 2013 00:00:00 +0530 Wed, 18 Nov 2015 13:04:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175325 The Tribunal upheld the deletion of a penalty under section 271D imposed on an assessee for violating section 269SS by accepting cash, granting immunity based on section 273B due to urgent business needs, prompt repayment, and lack of intent to conceal income. The Tribunal emphasized the genuine nature of the transaction, business exigency, and clerical errors in the Assessing Officer's order, ultimately dismissing the revenue's appeal and allowing the Cross-objections in favor of the assessee. Case-Laws Income Tax Thu, 31 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175325