https://www.taxtmi.com/caselaws?id=361277 The High Court remanded the case back to the Tribunal for further review regarding the deletion of the penalty under Section 271D of the Income Tax Act. The Court emphasized the need for a fresh adjudication, highlighting concerns raised by the Assessing Officer and the Commissioner of Income Tax (Appeals) regarding the legitimacy of the imprest claim and the utilization of funds for fixed deposit receipts. The Tribunal was instructed to independently reassess the case without prejudice, allowing the respondent/assessee to present all relevant arguments during the new proceedings. en-us Thu, 24 May 2018 00:00:00 +0530 Mon, 01 Oct 2018 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361277 The High Court remanded the case back to the Tribunal for further review regarding the deletion of the penalty under Section 271D of the Income Tax Act. The Court emphasized the need for a fresh adjudication, highlighting concerns raised by the Assessing Officer and the Commissioner of Income Tax (Appeals) regarding the legitimacy of the imprest claim and the utilization of funds for fixed deposit receipts. The Tribunal was instructed to independently reassess the case without prejudice, allowing the respondent/assessee to present all relevant arguments during the new proceedings. Case-Laws Income Tax Thu, 24 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361277