https://www.taxtmi.com/caselaws?id=456120 The Tribunal dismissed the appeal, affirming the penalty of Rs. 1,00,000/- under Section 271E of the Income Tax Act for repaying a loan in cash, violating Section 269T. The assessee's claims of genuineness and reasonable cause were unsubstantiated. The Tribunal highlighted the statutory requirement and absence of evidence for compelling reasons for cash repayment. en-us Fri, 05 Aug 2011 00:00:00 +0530 Mon, 01 Jul 2024 14:13:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456120 The Tribunal dismissed the appeal, affirming the penalty of Rs. 1,00,000/- under Section 271E of the Income Tax Act for repaying a loan in cash, violating Section 269T. The assessee's claims of genuineness and reasonable cause were unsubstantiated. The Tribunal highlighted the statutory requirement and absence of evidence for compelling reasons for cash repayment. Case-Laws Income Tax Fri, 05 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456120