https://www.taxtmi.com/caselaws?id=370839 The High Court upheld the decision to dismiss the Department's appeal against the Commissioner Income Tax's order, which deleted the penalty under Section 271E. The Court agreed with the Tribunal's findings that the cash transactions were not in violation of Section 269T as they were not related to any loan or deposit repayment. The Court emphasized that the burden of proof was on the Revenue to establish the existence of a loan or advance, which was not done. Consequently, the Court found no substantial question of law and upheld the deletion of the penalty. en-us Tue, 30 Oct 2018 00:00:00 +0530 Sat, 24 Nov 2018 07:26:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370839 The High Court upheld the decision to dismiss the Department's appeal against the Commissioner Income Tax's order, which deleted the penalty under Section 271E. The Court agreed with the Tribunal's findings that the cash transactions were not in violation of Section 269T as they were not related to any loan or deposit repayment. The Court emphasized that the burden of proof was on the Revenue to establish the existence of a loan or advance, which was not done. Consequently, the Court found no substantial question of law and upheld the deletion of the penalty. Case-Laws Income Tax Tue, 30 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370839