https://www.taxtmi.com/caselaws?id=420153 The Tribunal upheld the deletion of penalties under Section 271D for both assessment years, finding that the journal entries were made for legitimate business purposes, constituted reasonable cause under Section 273B, and did not breach Sections 269SS/ST. The Tribunal relied on judicial precedents and individual case analysis to support its decision, dismissing the Assessing Officer's appeals. en-us Thu, 24 Mar 2022 00:00:00 +0530 Mon, 28 Mar 2022 08:24:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420153 The Tribunal upheld the deletion of penalties under Section 271D for both assessment years, finding that the journal entries were made for legitimate business purposes, constituted reasonable cause under Section 273B, and did not breach Sections 269SS/ST. The Tribunal relied on judicial precedents and individual case analysis to support its decision, dismissing the Assessing Officer's appeals. Case-Laws Income Tax Thu, 24 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420153