https://www.taxtmi.com/caselaws?id=331426 The Tribunal allowed the appeal, quashing the penalty order under Section 271D. The assessee demonstrated a reasonable cause for the cash transactions, with the explanation accepted during assessment proceedings. The initiation of penalty proceedings was found to be within the permissible period, and the Revenue was barred from taking a contradictory stance in penalty proceedings. en-us Wed, 03 Aug 2016 00:00:00 +0530 Mon, 22 Aug 2016 14:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331426 The Tribunal allowed the appeal, quashing the penalty order under Section 271D. The assessee demonstrated a reasonable cause for the cash transactions, with the explanation accepted during assessment proceedings. The initiation of penalty proceedings was found to be within the permissible period, and the Revenue was barred from taking a contradictory stance in penalty proceedings. Case-Laws Income Tax Wed, 03 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331426