https://www.taxtmi.com/caselaws?id=279710 The ITAT allowed the appeal and deleted the penalty imposed under section 271D for accepting cash deposits in violation of section 269SS. IT found that the transactions were genuine and not loans, involving the same person in different capacities. The ITAT concluded that the penalty was unjustified based on relevant case law and the explanations provided by the assessee. en-us Fri, 22 Mar 2013 00:00:00 +0530 Tue, 02 Apr 2019 12:55:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279710 The ITAT allowed the appeal and deleted the penalty imposed under section 271D for accepting cash deposits in violation of section 269SS. IT found that the transactions were genuine and not loans, involving the same person in different capacities. The ITAT concluded that the penalty was unjustified based on relevant case law and the explanations provided by the assessee. Case-Laws Income Tax Fri, 22 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279710