https://www.taxtmi.com/caselaws?id=286133 The Tribunal upheld the CIT(A)'s decision to delete penalties under Sections 271D and 271E of the Income Tax Act, amounting to significant sums, due to the existence of a reasonable cause under Section 273B. The transactions in question were found to be genuine and made in good faith, supported by judicial precedents. The Tribunal dismissed the revenue's appeals, affirming that no penalties were warranted in this case. en-us Wed, 13 Mar 2019 00:00:00 +0530 Thu, 13 Feb 2020 15:38:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286133 The Tribunal upheld the CIT(A)'s decision to delete penalties under Sections 271D and 271E of the Income Tax Act, amounting to significant sums, due to the existence of a reasonable cause under Section 273B. The transactions in question were found to be genuine and made in good faith, supported by judicial precedents. The Tribunal dismissed the revenue's appeals, affirming that no penalties were warranted in this case. Case-Laws Income Tax Wed, 13 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286133