https://www.taxtmi.com/caselaws?id=289287 The Tribunal allowed the Revenue's appeals, confirming penalties under sections 271D and 271E of the Income Tax Act for various assessment years. The penalties were upheld for violations related to accepting loans in cash and repaying loans in cash, contrary to prescribed limits and without reasonable cause. The Tribunal reversed the decisions of the CIT(A) and reinstated the penalties for the specified assessment years. en-us Thu, 31 Mar 2016 00:00:00 +0530 Fri, 24 Jul 2020 08:00:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289287 The Tribunal allowed the Revenue's appeals, confirming penalties under sections 271D and 271E of the Income Tax Act for various assessment years. The penalties were upheld for violations related to accepting loans in cash and repaying loans in cash, contrary to prescribed limits and without reasonable cause. The Tribunal reversed the decisions of the CIT(A) and reinstated the penalties for the specified assessment years. Case-Laws Income Tax Thu, 31 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289287