https://www.taxtmi.com/caselaws?id=299732 The Tribunal upheld the CIT(A)'s decision to delete penalties under Sections 271D and 271E of the Income Tax Act, 1961, for the assessment years 2008-09 and 2009-10. The Tribunal found that the transactions were genuine and conducted for commercial reasons, not with the intent to evade tax, in line with legal principles and precedents. The revenue's appeals were dismissed. en-us Mon, 09 Jul 2018 00:00:00 +0530 Tue, 09 Aug 2022 17:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299732 The Tribunal upheld the CIT(A)'s decision to delete penalties under Sections 271D and 271E of the Income Tax Act, 1961, for the assessment years 2008-09 and 2009-10. The Tribunal found that the transactions were genuine and conducted for commercial reasons, not with the intent to evade tax, in line with legal principles and precedents. The revenue's appeals were dismissed. Case-Laws Income Tax Mon, 09 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299732