https://www.taxtmi.com/caselaws?id=182006 The Tribunal set aside the Ld CIT(A)'s decision and restored the penalty under section 271D of the Income Tax Act, emphasizing the failure to demonstrate alignment with exceptions or reasonable cause for accepting the cash loan. The judgment highlighted the importance of substantiating claims and complying with legal provisions, ultimately emphasizing the necessity for thorough examination and compliance with statutory provisions in tax matters. en-us Fri, 22 Nov 2013 00:00:00 +0530 Mon, 26 Sep 2016 13:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182006 The Tribunal set aside the Ld CIT(A)'s decision and restored the penalty under section 271D of the Income Tax Act, emphasizing the failure to demonstrate alignment with exceptions or reasonable cause for accepting the cash loan. The judgment highlighted the importance of substantiating claims and complying with legal provisions, ultimately emphasizing the necessity for thorough examination and compliance with statutory provisions in tax matters. Case-Laws Income Tax Fri, 22 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182006