https://www.taxtmi.com/caselaws?id=362295 The Tribunal ruled in favor of the assessee, setting aside the CIT(A)'s decision and canceling the penalty imposed under section 271D of the Income-tax Act, 1961. The judgment highlighted the familial nature of the transaction and the absence of tax evasion motives, aligning with previous rulings on transactions between spouses not intended for commercial purposes. en-us Wed, 20 Jun 2018 00:00:00 +0530 Fri, 22 Jun 2018 09:01:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362295 The Tribunal ruled in favor of the assessee, setting aside the CIT(A)'s decision and canceling the penalty imposed under section 271D of the Income-tax Act, 1961. The judgment highlighted the familial nature of the transaction and the absence of tax evasion motives, aligning with previous rulings on transactions between spouses not intended for commercial purposes. Case-Laws Income Tax Wed, 20 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362295