https://www.taxtmi.com/caselaws?id=297401 The High Court upheld the decisions of the CIT (Appeals) and the Tribunal, ruling in favor of the respondent assessee. The Court agreed that the amounts in question, treated as booking advances and assessed as undisclosed income under section 68, did not warrant penalties under sections 269SS or 269T. Consequently, penalties under sections 271D and 271E were deemed unjustified and were deleted by the Tribunal. The Court dismissed the Revenue's Tax Appeals. en-us Wed, 06 Feb 2013 00:00:00 +0530 Thu, 02 Sep 2021 17:59:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297401 The High Court upheld the decisions of the CIT (Appeals) and the Tribunal, ruling in favor of the respondent assessee. The Court agreed that the amounts in question, treated as booking advances and assessed as undisclosed income under section 68, did not warrant penalties under sections 269SS or 269T. Consequently, penalties under sections 271D and 271E were deemed unjustified and were deleted by the Tribunal. The Court dismissed the Revenue's Tax Appeals. Case-Laws Income Tax Wed, 06 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297401