https://www.taxtmi.com/caselaws?id=342469 The ITAT allowed the appeal, setting aside the penalty imposed under section 271D of the Income Tax Act. Emphasizing reasonable cause and the acceptance of explanations provided by the appellant, the ITAT relied on precedents, including CIT Vs. Dimple Yadav, to support its decision. The judgment underscored the need to assess each case individually, considering the circumstances and justifications presented by the appellant to determine the applicability of penalties under the Act. en-us Wed, 03 May 2017 00:00:00 +0530 Fri, 05 May 2017 07:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342469 The ITAT allowed the appeal, setting aside the penalty imposed under section 271D of the Income Tax Act. Emphasizing reasonable cause and the acceptance of explanations provided by the appellant, the ITAT relied on precedents, including CIT Vs. Dimple Yadav, to support its decision. The judgment underscored the need to assess each case individually, considering the circumstances and justifications presented by the appellant to determine the applicability of penalties under the Act. Case-Laws Income Tax Wed, 03 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342469