https://www.taxtmi.com/caselaws?id=791808 Penalty under section 271D for alleged breach of section 269SS was deleted because the record did not establish a clear contravention and the assessee had furnished details of the cash receipts during assessment. The Tribunal held that a mere different view of the material is not enough to sustain penalty, and that penalty cannot stand where the explanation for the cash transactions is bona fide and no definite finding of violation is recorded by the Assessing Officer. On those facts, the statutory basis for penalty failed and relief was granted to the assessee. en-us Fri, 15 May 2026 00:00:00 +0530 Mon, 18 May 2026 08:40:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791808 Penalty under section 271D for alleged breach of section 269SS was deleted because the record did not establish a clear contravention and the assessee had furnished details of the cash receipts during assessment. The Tribunal held that a mere different view of the material is not enough to sustain penalty, and that penalty cannot stand where the explanation for the cash transactions is bona fide and no definite finding of violation is recorded by the Assessing Officer. On those facts, the statutory basis for penalty failed and relief was granted to the assessee. Case-Laws Income Tax Fri, 15 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791808