https://www.taxtmi.com/caselaws?id=282348 The Tribunal allowed the appeal, canceling the penalty imposed under section 271D for the alleged contravention of section 269SS, emphasizing the genuine and bonafide nature of the transactions. The Tribunal found the cash transactions with the relative to be genuine and without tax implications, concluding that no penalty should be levied due to the bonafide belief in compliance and the nature of the transactions. en-us Mon, 29 Feb 2016 00:00:00 +0530 Sun, 04 Aug 2019 16:01:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282348 The Tribunal allowed the appeal, canceling the penalty imposed under section 271D for the alleged contravention of section 269SS, emphasizing the genuine and bonafide nature of the transactions. The Tribunal found the cash transactions with the relative to be genuine and without tax implications, concluding that no penalty should be levied due to the bonafide belief in compliance and the nature of the transactions. Case-Laws Income Tax Mon, 29 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282348