https://www.taxtmi.com/caselaws?id=358464 The High Court upheld the Tribunal's decision and CIT (A)'s order regarding unexplained cash deposits and penalty under section 271D of the Income Tax Act. The Court found the gifts adequately explained, emphasizing the sufficiency of funds with the donor. The Court dismissed the appeals against the Department's claims, ruling in favor of the assessee. en-us Tue, 03 Apr 2018 00:00:00 +0530 Thu, 12 Apr 2018 07:40:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358464 The High Court upheld the Tribunal's decision and CIT (A)'s order regarding unexplained cash deposits and penalty under section 271D of the Income Tax Act. The Court found the gifts adequately explained, emphasizing the sufficiency of funds with the donor. The Court dismissed the appeals against the Department's claims, ruling in favor of the assessee. Case-Laws Income Tax Tue, 03 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358464