https://www.taxtmi.com/caselaws?id=354844 The tribunal allowed the appeal regarding the penalty under Section 271E, cancelling it entirely. For the penalty under Section 271D, the tribunal set aside the order and remanded the case back to the Assessing Officer for a detailed examination of the facts, specifically whether the amounts were received through sale agreements and to what extent. The Assessing Officer was directed to exclude the amounts received via sale agreements and those offered as income from the penalty calculation under Section 271D. The Assessee was to be given a due opportunity to present submissions during the re-examination process. en-us Wed, 31 Jan 2018 00:00:00 +0530 Mon, 05 Feb 2018 09:02:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354844 The tribunal allowed the appeal regarding the penalty under Section 271E, cancelling it entirely. For the penalty under Section 271D, the tribunal set aside the order and remanded the case back to the Assessing Officer for a detailed examination of the facts, specifically whether the amounts were received through sale agreements and to what extent. The Assessing Officer was directed to exclude the amounts received via sale agreements and those offered as income from the penalty calculation under Section 271D. The Assessee was to be given a due opportunity to present submissions during the re-examination process. Case-Laws Income Tax Wed, 31 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354844