https://www.taxtmi.com/caselaws?id=443591 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271D, ruling that the cash received was not unexplained income and could not be penalized under section 269SS. The Tribunal emphasized the absence of recorded satisfaction by the AO for initiating the penalty, citing relevant case law. The Revenue's appeal was dismissed, affirming the findings in favor of the assessee. en-us Thu, 15 Jun 2023 00:00:00 +0530 Thu, 28 Sep 2023 19:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443591 The Tribunal upheld the CIT(A)'s decision to delete the penalty under section 271D, ruling that the cash received was not unexplained income and could not be penalized under section 269SS. The Tribunal emphasized the absence of recorded satisfaction by the AO for initiating the penalty, citing relevant case law. The Revenue's appeal was dismissed, affirming the findings in favor of the assessee. Case-Laws Income Tax Thu, 15 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443591