https://www.taxtmi.com/caselaws?id=793450 Cash receipts from close family members and related entities did not attract penalty under section 271D because, on the jurisdictional High Court principle applied by the Tribunal, such intra-family transactions were not shown to be loans or deposits in substance for section 269SS. The corresponding cash repayments to close relatives also did not attract penalty under section 271E on the same reasoning under section 269T, and the Tribunal additionally noted that the assessment under section 143(3) recorded no adverse finding on the transactions. Both penalties were deleted and the assessee succeeded in both appeals. en-us Fri, 12 Jun 2026 00:00:00 +0530 Tue, 16 Jun 2026 08:32:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793450 Cash receipts from close family members and related entities did not attract penalty under section 271D because, on the jurisdictional High Court principle applied by the Tribunal, such intra-family transactions were not shown to be loans or deposits in substance for section 269SS. The corresponding cash repayments to close relatives also did not attract penalty under section 271E on the same reasoning under section 269T, and the Tribunal additionally noted that the assessment under section 143(3) recorded no adverse finding on the transactions. Both penalties were deleted and the assessee succeeded in both appeals. Case-Laws Income Tax Fri, 12 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793450