https://www.taxtmi.com/caselaws?id=388889 The Tribunal held that the penalty under section 271C was not sustainable due to the Reasonable Cause demonstrated by the assessee-bank. The Tribunal directed the AO to delete the penalty and allowed the appeals of the assessee. This decision applied to all related appeals, as the facts were similar and identical. The appeals filed by the assessee in ITA Nos. 1118 to 1121, 1123, 1168 to 1172 & 1237 & 1238/Bang/2018 were allowed, and the penalty imposed under section 271C was directed to be deleted. en-us Mon, 18 Nov 2019 00:00:00 +0530 Tue, 26 Nov 2019 10:36:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388889 The Tribunal held that the penalty under section 271C was not sustainable due to the Reasonable Cause demonstrated by the assessee-bank. The Tribunal directed the AO to delete the penalty and allowed the appeals of the assessee. This decision applied to all related appeals, as the facts were similar and identical. The appeals filed by the assessee in ITA Nos. 1118 to 1121, 1123, 1168 to 1172 & 1237 & 1238/Bang/2018 were allowed, and the penalty imposed under section 271C was directed to be deleted. Case-Laws Income Tax Mon, 18 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388889