https://www.taxtmi.com/caselaws?id=464788 ITAT MUMBAI - AT deleted penalty under s.271D for alleged contravention of s.269SS. The tribunal found cash advances from directors were genuine, duly recorded in books and bank accounts, and not unaccounted money. As the AO had not doubted the transactions and the assessee demonstrated reasonable cause, s.273B applied and the penalty was withdrawn. en-us Tue, 23 Apr 2019 00:00:00 +0530 Fri, 14 Nov 2025 14:21:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464788 ITAT MUMBAI - AT deleted penalty under s.271D for alleged contravention of s.269SS. The tribunal found cash advances from directors were genuine, duly recorded in books and bank accounts, and not unaccounted money. As the AO had not doubted the transactions and the assessee demonstrated reasonable cause, s.273B applied and the penalty was withdrawn. Case-Laws Income Tax Tue, 23 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464788