https://www.taxtmi.com/caselaws?id=779418 ITAT upholds CIT(A)'s deletion of penalty under s.271D for alleged contravention of s.269SS. The Tribunal found the AO's view that the assessee received a cash loan of Rs.25 crore to be erroneous and there was no evidence of any actual cash payment by the purported payer. As no violation of s.269SS occurred, no penalty was leviable; the Revenue's challenge to the CIT(A) order was rejected. en-us Wed, 24 Sep 2025 00:00:00 +0530 Mon, 06 Oct 2025 09:10:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779418 ITAT upholds CIT(A)'s deletion of penalty under s.271D for alleged contravention of s.269SS. The Tribunal found the AO's view that the assessee received a cash loan of Rs.25 crore to be erroneous and there was no evidence of any actual cash payment by the purported payer. As no violation of s.269SS occurred, no penalty was leviable; the Revenue's challenge to the CIT(A) order was rejected. Case-Laws Income Tax Wed, 24 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779418