https://www.taxtmi.com/caselaws?id=416770 The Tribunal dismissed the Revenue's appeal against the order of CIT(A) for AY 2008-09, affirming the deletion of the penalty imposed under Section 271D. The Tribunal held that penalties for transactions between a partnership firm and its partners are not applicable under Section 271D, citing relevant tribunal decisions and the absence of recorded satisfaction for penalty initiation. en-us Thu, 30 Dec 2021 00:00:00 +0530 Fri, 07 Jan 2022 08:52:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416770 The Tribunal dismissed the Revenue's appeal against the order of CIT(A) for AY 2008-09, affirming the deletion of the penalty imposed under Section 271D. The Tribunal held that penalties for transactions between a partnership firm and its partners are not applicable under Section 271D, citing relevant tribunal decisions and the absence of recorded satisfaction for penalty initiation. Case-Laws Income Tax Thu, 30 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416770