https://www.taxtmi.com/caselaws?id=396132 The Court upheld the penalty imposition under Section 271D on the appellant for violating Section 269SS of the Income Tax Act by accepting cash deposits exceeding the limit without establishing a 'reasonable cause.' Despite the appellant's contentions of being a charitable organization and ignorance of the law, the Court found no valid 'reasonable cause' for the cash deposits, leading to the dismissal of the Income Tax Appeal. The appellant's arguments of lack of intention to evade tax and lack of banking facilities were not accepted, resulting in the affirmation of the penalty amount. en-us Wed, 30 Oct 2019 00:00:00 +0530 Mon, 22 Jun 2020 08:14:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396132 The Court upheld the penalty imposition under Section 271D on the appellant for violating Section 269SS of the Income Tax Act by accepting cash deposits exceeding the limit without establishing a 'reasonable cause.' Despite the appellant's contentions of being a charitable organization and ignorance of the law, the Court found no valid 'reasonable cause' for the cash deposits, leading to the dismissal of the Income Tax Appeal. The appellant's arguments of lack of intention to evade tax and lack of banking facilities were not accepted, resulting in the affirmation of the penalty amount. Case-Laws Income Tax Wed, 30 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396132