https://www.taxtmi.com/caselaws?id=190275 The High Court upheld the Tribunal's decision to delete a penalty of Rs. 1,14,60,017 imposed under section 271D of the Income Tax Act. The Court found that the assessee's actions were in good faith to address financial difficulties, with no evidence of intentional violation or tax planning. The penalty deletion was confirmed due to lack of evidence of defiance of provisions or tax planning, leading to the dismissal of the tax appeal. en-us Mon, 02 May 2011 00:00:00 +0530 Fri, 10 Feb 2017 16:37:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190275 The High Court upheld the Tribunal's decision to delete a penalty of Rs. 1,14,60,017 imposed under section 271D of the Income Tax Act. The Court found that the assessee's actions were in good faith to address financial difficulties, with no evidence of intentional violation or tax planning. The penalty deletion was confirmed due to lack of evidence of defiance of provisions or tax planning, leading to the dismissal of the tax appeal. Case-Laws Income Tax Mon, 02 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190275