https://www.taxtmi.com/caselaws?id=356672 The tribunal held that the penalty levied under Section 271E of the Income Tax Act was not justified. The assessee's business decisions and the genuineness of the transactions were acknowledged, leading to the deletion of the penalty. The appeal of the assessee was allowed, and the penalty under Section 271E was ultimately deleted. en-us Wed, 07 Mar 2018 00:00:00 +0530 Fri, 09 Mar 2018 06:57:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356672 The tribunal held that the penalty levied under Section 271E of the Income Tax Act was not justified. The assessee's business decisions and the genuineness of the transactions were acknowledged, leading to the deletion of the penalty. The appeal of the assessee was allowed, and the penalty under Section 271E was ultimately deleted. Case-Laws Income Tax Wed, 07 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356672