https://www.taxtmi.com/caselaws?id=435917 The Tribunal upheld the penalty imposed under section 271D for violating section 269SS by accepting a cash loan. Despite the appellant's arguments that the loan was necessary for urgent salary payments and properly recorded, the ld. CIT(A) affirmed the penalty, deeming the explanation insufficient. The Tribunal, after reviewing the case and judgments, found no evidence supporting the loan's purpose, leading to the dismissal of the appeal against the penalty order. The decision was grounded in legal provisions and arguments presented, ultimately confirming the penalty imposition. en-us Thu, 09 Feb 2023 00:00:00 +0530 Thu, 30 Mar 2023 08:17:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435917 The Tribunal upheld the penalty imposed under section 271D for violating section 269SS by accepting a cash loan. Despite the appellant's arguments that the loan was necessary for urgent salary payments and properly recorded, the ld. CIT(A) affirmed the penalty, deeming the explanation insufficient. The Tribunal, after reviewing the case and judgments, found no evidence supporting the loan's purpose, leading to the dismissal of the appeal against the penalty order. The decision was grounded in legal provisions and arguments presented, ultimately confirming the penalty imposition. Case-Laws Income Tax Thu, 09 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435917