https://www.taxtmi.com/caselaws?id=760487 The ITAT allowed the appeal, ruling in favor of the assessee by directing the Assessing Officer to delete the penalty imposed under section 271E of the Income Tax Act. The Tribunal concluded that the cash repayment was made by the successful bidder in an auction, not the assessee, thus not violating section 269T. en-us Thu, 17 Oct 2024 00:00:00 +0530 Tue, 22 Oct 2024 08:34:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760487 The ITAT allowed the appeal, ruling in favor of the assessee by directing the Assessing Officer to delete the penalty imposed under section 271E of the Income Tax Act. The Tribunal concluded that the cash repayment was made by the successful bidder in an auction, not the assessee, thus not violating section 269T. Case-Laws Income Tax Thu, 17 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760487