https://www.taxtmi.com/caselaws?id=468986 A penalty for alleged acceptance of a cash loan did not survive after the underlying quantum addition on the same transaction had already been deleted for want of corroborative evidence. The Tribunal also noted that the assessment order did not record clear, specific satisfaction for initiating penalty proceedings, so the penalty lacked a valid foundation. In these circumstances, the section 271D penalty was held unsustainable on facts and in law. en-us Wed, 28 Jan 2026 00:00:00 +0530 Tue, 26 May 2026 17:42:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468986 A penalty for alleged acceptance of a cash loan did not survive after the underlying quantum addition on the same transaction had already been deleted for want of corroborative evidence. The Tribunal also noted that the assessment order did not record clear, specific satisfaction for initiating penalty proceedings, so the penalty lacked a valid foundation. In these circumstances, the section 271D penalty was held unsustainable on facts and in law. Case-Laws Income Tax Wed, 28 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468986