https://www.taxtmi.com/caselaws?id=442855 The appeal against the penalty order under section 271D for accepting a loan in contravention of section 269SS was allowed. The Tribunal found that the loan was accepted through a banking channel with no cash involvement, making section 269SS inapplicable. As the assessee, an agriculturist with income from agricultural activities, had no regular assessment, the penalty under section 271D was deemed unjustified. The appeal of the assessee was upheld, and the penalty was set aside. en-us Wed, 06 Sep 2023 00:00:00 +0530 Tue, 12 Sep 2023 09:24:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442855 The appeal against the penalty order under section 271D for accepting a loan in contravention of section 269SS was allowed. The Tribunal found that the loan was accepted through a banking channel with no cash involvement, making section 269SS inapplicable. As the assessee, an agriculturist with income from agricultural activities, had no regular assessment, the penalty under section 271D was deemed unjustified. The appeal of the assessee was upheld, and the penalty was set aside. Case-Laws Income Tax Wed, 06 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442855