https://www.taxtmi.com/caselaws?id=307728 The Tribunal allowed the appeal, canceling the penalty imposed under Section 271D of the Income Tax Act, 1961. It held that the transactions between the trustee and the trust were genuine, made to meet urgent financial needs, and did not involve black money. The Tribunal concluded that the appellant had a reasonable cause for accepting cash deposits, and the trustee was not considered "any other person" under Section 269SS. en-us Mon, 18 Apr 2022 00:00:00 +0530 Tue, 02 May 2023 21:34:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307728 The Tribunal allowed the appeal, canceling the penalty imposed under Section 271D of the Income Tax Act, 1961. It held that the transactions between the trustee and the trust were genuine, made to meet urgent financial needs, and did not involve black money. The Tribunal concluded that the appellant had a reasonable cause for accepting cash deposits, and the trustee was not considered "any other person" under Section 269SS. Case-Laws Income Tax Mon, 18 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307728