https://www.taxtmi.com/caselaws?id=176109 The Tribunal allowed the appeal, concluding that the assessee had a bona fide belief that transactions between his individual capacity and HUF were not covered by s. 269SS. The transactions were genuine, with no intention to evade taxes, justifying the failure to comply with s. 269SS. The penalty u/s 271D was deemed unjustified, and the Tribunal directed the deletion of the penalty imposed by the CIT(A). en-us Fri, 08 Apr 2011 00:00:00 +0530 Sat, 12 Dec 2015 13:21:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176109 The Tribunal allowed the appeal, concluding that the assessee had a bona fide belief that transactions between his individual capacity and HUF were not covered by s. 269SS. The transactions were genuine, with no intention to evade taxes, justifying the failure to comply with s. 269SS. The penalty u/s 271D was deemed unjustified, and the Tribunal directed the deletion of the penalty imposed by the CIT(A). Case-Laws Income Tax Fri, 08 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176109