https://www.taxtmi.com/caselaws?id=415800 The High Court set aside the Tribunal's decision and ruled in favor of the Revenue, remanding the case back to the Tribunal for a fresh examination. The dispute centered on the penalty imposed under Section 271E for non-compliance with loan transaction requirements, with the Court emphasizing the need for both parties to present their cases within a specified timeline. The Court disagreed with the Tribunal's leniency towards the assessee and allowed the Revenue to introduce additional documents for penalty imposition consideration. en-us Tue, 28 Sep 2021 00:00:00 +0530 Tue, 14 Dec 2021 08:40:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415800 The High Court set aside the Tribunal's decision and ruled in favor of the Revenue, remanding the case back to the Tribunal for a fresh examination. The dispute centered on the penalty imposed under Section 271E for non-compliance with loan transaction requirements, with the Court emphasizing the need for both parties to present their cases within a specified timeline. The Court disagreed with the Tribunal's leniency towards the assessee and allowed the Revenue to introduce additional documents for penalty imposition consideration. Case-Laws Income Tax Tue, 28 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415800