https://www.taxtmi.com/caselaws?id=443401 The tribunal dismissed the company's appeal, confirming the levy of penalty under section 271D of the Income Tax Act, 1961. The delay in filing the appeal was condoned due to a mistake by the company's staff, but the penalty was upheld as the company failed to demonstrate emergency circumstances justifying the cash transactions with its Director. The tribunal emphasized the importance of proving imminent need to avoid penalty under section 271D and cited relevant case laws to support its decision. en-us Tue, 16 May 2023 00:00:00 +0530 Fri, 22 Sep 2023 09:12:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443401 The tribunal dismissed the company's appeal, confirming the levy of penalty under section 271D of the Income Tax Act, 1961. The delay in filing the appeal was condoned due to a mistake by the company's staff, but the penalty was upheld as the company failed to demonstrate emergency circumstances justifying the cash transactions with its Director. The tribunal emphasized the importance of proving imminent need to avoid penalty under section 271D and cited relevant case laws to support its decision. Case-Laws Income Tax Tue, 16 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443401