https://www.taxtmi.com/caselaws?id=299769 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision, ruling that transactions through journal entries between sister concerns, conducted for genuine business reasons and without tax evasion, constituted a reasonable cause under Section 273B. Consequently, the penalty under Section 271E was deemed unwarranted. The decision was based on established judicial precedents emphasizing the commercial nature and genuineness of transactions, leading to the dismissal of all appeals and cross objections. en-us Fri, 13 Sep 2019 00:00:00 +0530 Wed, 29 Dec 2021 08:44:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299769 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision, ruling that transactions through journal entries between sister concerns, conducted for genuine business reasons and without tax evasion, constituted a reasonable cause under Section 273B. Consequently, the penalty under Section 271E was deemed unwarranted. The decision was based on established judicial precedents emphasizing the commercial nature and genuineness of transactions, leading to the dismissal of all appeals and cross objections. Case-Laws Income Tax Fri, 13 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299769