https://www.taxtmi.com/caselaws?id=355182 The Court upheld the Tribunal's decision regarding the penalty under Section 271D of the Income Tax Act for the Assessment Year 2009-10. The Tribunal found a reasonable cause under Section 273B for non-compliance with Section 269SS due to accepting loans via journal entries. The Court emphasized that the issue of reasonable cause is factual, not legal, and dismissed all appeals challenging the Tribunal's order, as other questions raised did not present substantial legal issues. No costs were awarded in this case. en-us Tue, 06 Feb 2018 00:00:00 +0530 Wed, 10 Apr 2019 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355182 The Court upheld the Tribunal's decision regarding the penalty under Section 271D of the Income Tax Act for the Assessment Year 2009-10. The Tribunal found a reasonable cause under Section 273B for non-compliance with Section 269SS due to accepting loans via journal entries. The Court emphasized that the issue of reasonable cause is factual, not legal, and dismissed all appeals challenging the Tribunal's order, as other questions raised did not present substantial legal issues. No costs were awarded in this case. Case-Laws Income Tax Tue, 06 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355182