https://www.taxtmi.com/caselaws?id=182261 The High Court upheld the decision to delete the penalty under section 271E due to the compulsion faced by the assessee in the loan transaction. The Court dismissed the Revenue's appeals related to this issue. Regarding the penalty under section 271D, the Court found a serious violation of natural justice as the assessee was deprived of the opportunity to defend properly. The Court set aside the impugned order, remanding the case for fresh disposal to ensure the principles of natural justice are upheld, granting the assessee the opportunity to present a satisfactory defense. en-us Wed, 01 Jul 2015 00:00:00 +0530 Fri, 06 May 2016 11:48:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182261 The High Court upheld the decision to delete the penalty under section 271E due to the compulsion faced by the assessee in the loan transaction. The Court dismissed the Revenue's appeals related to this issue. Regarding the penalty under section 271D, the Court found a serious violation of natural justice as the assessee was deprived of the opportunity to defend properly. The Court set aside the impugned order, remanding the case for fresh disposal to ensure the principles of natural justice are upheld, granting the assessee the opportunity to present a satisfactory defense. Case-Laws Income Tax Wed, 01 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182261