https://www.taxtmi.com/caselaws?id=177012 The Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer to delete penalties imposed under sections 271E and 271D of the Income Tax Act, 1961. The ITAT ruled in favor of the assessee, holding that payments made through journal entries did not violate the relevant sections (269T and 269SS). Previous tribunal decisions supporting this interpretation led to the deletion of the penalties amounting to Rs. 5,29,83,400 under section 271E and Rs. 3,45,13,627 under section 271D for the assessment year 2005-06. en-us Tue, 25 Oct 2011 00:00:00 +0530 Fri, 01 Jan 2016 15:06:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177012 The Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer to delete penalties imposed under sections 271E and 271D of the Income Tax Act, 1961. The ITAT ruled in favor of the assessee, holding that payments made through journal entries did not violate the relevant sections (269T and 269SS). Previous tribunal decisions supporting this interpretation led to the deletion of the penalties amounting to Rs. 5,29,83,400 under section 271E and Rs. 3,45,13,627 under section 271D for the assessment year 2005-06. Case-Laws Income Tax Tue, 25 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177012