https://www.taxtmi.com/caselaws?id=299731 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271D, dismissing the revenue's appeal. The assessee's cross-objection was not separately addressed as it was resolved within the appeal. The Tribunal found the CIT(A)'s decision reasonable, based on prior court rulings and the absence of tax evasion motive, aligning with a Bombay High Court decision. The appeal by the revenue was dismissed, affirming the deletion of the penalty under section 271D, rendering the cross-objection moot. en-us Mon, 09 Jul 2018 00:00:00 +0530 Tue, 28 Dec 2021 08:50:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299731 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271D, dismissing the revenue's appeal. The assessee's cross-objection was not separately addressed as it was resolved within the appeal. The Tribunal found the CIT(A)'s decision reasonable, based on prior court rulings and the absence of tax evasion motive, aligning with a Bombay High Court decision. The appeal by the revenue was dismissed, affirming the deletion of the penalty under section 271D, rendering the cross-objection moot. Case-Laws Income Tax Mon, 09 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299731