https://www.taxtmi.com/caselaws?id=385285 The Tribunal upheld penalties imposed under Section 271D for violating Section 269SS for assessment years 2002-03, 2004-05, and 2006-07. The penalties were reduced by the CIT(A) but confirmed for accepting cash loans not proven to be company-related. Inadequate evidence and lack of recorded transactions in the company's books led to the dismissal of appeals and affirmation of penalties. en-us Fri, 30 Aug 2019 00:00:00 +0530 Mon, 02 Sep 2019 08:12:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385285 The Tribunal upheld penalties imposed under Section 271D for violating Section 269SS for assessment years 2002-03, 2004-05, and 2006-07. The penalties were reduced by the CIT(A) but confirmed for accepting cash loans not proven to be company-related. Inadequate evidence and lack of recorded transactions in the company's books led to the dismissal of appeals and affirmation of penalties. Case-Laws Income Tax Fri, 30 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385285