https://www.taxtmi.com/caselaws?id=353204 The Tribunal dismissed the revenue's appeal (ITA No. 2988/Ahd/2017) against the deletion of penalty u/s.271D of the Act for AY 2010-11 due to the tax effect being below the prescribed limit. Additionally, the Tribunal upheld the deletion of penalty u/s.271E of the Act in the second appeal (ITA No. 2989/Ahd/2014) by the revenue, finding the penalty imposition unjustified based on discrepancies in the assessment related to cash repayments exceeding permissible limits. The Cross Objections filed by the assessee were dismissed, resulting in the dismissal of all appeals and objections. en-us Tue, 19 Dec 2017 00:00:00 +0530 Thu, 29 Mar 2018 14:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353204 The Tribunal dismissed the revenue's appeal (ITA No. 2988/Ahd/2017) against the deletion of penalty u/s.271D of the Act for AY 2010-11 due to the tax effect being below the prescribed limit. Additionally, the Tribunal upheld the deletion of penalty u/s.271E of the Act in the second appeal (ITA No. 2989/Ahd/2014) by the revenue, finding the penalty imposition unjustified based on discrepancies in the assessment related to cash repayments exceeding permissible limits. The Cross Objections filed by the assessee were dismissed, resulting in the dismissal of all appeals and objections. Case-Laws Income Tax Tue, 19 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353204