https://www.taxtmi.com/caselaws?id=283726 The appeal against the penalty imposition under sections 271D and 269SS for the assessment year 2007-08 was dismissed by the Tribunal. The Tribunal found that the amounts received were from family members and represented cash balances belonging to them, as recorded in the assessee's books. Citing a previous case, the Tribunal upheld that the penalty should not be imposed. The appellant's counsel could not confirm if the precedent case had been challenged. As a result, the revenue's appeal was not admitted, and the connection application was disposed of as moot. en-us Fri, 15 Jun 2012 00:00:00 +0530 Wed, 09 Oct 2019 14:55:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283726 The appeal against the penalty imposition under sections 271D and 269SS for the assessment year 2007-08 was dismissed by the Tribunal. The Tribunal found that the amounts received were from family members and represented cash balances belonging to them, as recorded in the assessee's books. Citing a previous case, the Tribunal upheld that the penalty should not be imposed. The appellant's counsel could not confirm if the precedent case had been challenged. As a result, the revenue's appeal was not admitted, and the connection application was disposed of as moot. Case-Laws Income Tax Fri, 15 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283726