https://www.taxtmi.com/caselaws?id=283472 The Tribunal allowed the appeal, deleting the penalty imposed under section 271E of the Act for repaying loans in cash, which violated section 269T. Despite the penalties upheld by the AO and CIT(A), the Tribunal found no malafide intent or non-genuine transactions. Citing a High Court decision, the Tribunal concluded that the penalty was unjustified for a technical mistake, leading to its removal. en-us Fri, 17 Feb 2017 00:00:00 +0530 Thu, 14 Nov 2024 13:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283472 The Tribunal allowed the appeal, deleting the penalty imposed under section 271E of the Act for repaying loans in cash, which violated section 269T. Despite the penalties upheld by the AO and CIT(A), the Tribunal found no malafide intent or non-genuine transactions. Citing a High Court decision, the Tribunal concluded that the penalty was unjustified for a technical mistake, leading to its removal. Case-Laws Income Tax Fri, 17 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283472