https://www.taxtmi.com/caselaws?id=282758 The Tribunal upheld the CIT(A)'s decision to delete a penalty imposed under Section 271D for alleged violation of Section 269SS. It was determined that the transactions were bona fide, conducted through proper banking channels, and did not involve the acceptance of money in contravention of Section 269SS. The Revenue's appeal was dismissed, confirming that the penalty was not applicable in this case. The assessee's cross-objection was also dismissed. en-us Thu, 01 Sep 2016 00:00:00 +0530 Thu, 22 Aug 2019 20:38:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282758 The Tribunal upheld the CIT(A)'s decision to delete a penalty imposed under Section 271D for alleged violation of Section 269SS. It was determined that the transactions were bona fide, conducted through proper banking channels, and did not involve the acceptance of money in contravention of Section 269SS. The Revenue's appeal was dismissed, confirming that the penalty was not applicable in this case. The assessee's cross-objection was also dismissed. Case-Laws Income Tax Thu, 01 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282758