https://www.taxtmi.com/caselaws?id=798351 Penalty under Section 271AAC(1), being consequential to an addition taxable under Section 115BBE, cannot survive once the Section 69A addition for unexplained money is deleted. Amounts received and deposited by a banking business correspondent on behalf of customers and the bank do not constitute the correspondent's unexplained money. Penalty under Section 272A(1)(d) for non-compliance with statutory notices is not automatic, as Section 273B protects an assessee establishing reasonable cause. Limited familiarity with electronic tax proceedings and absence of deliberate obstruction may constitute reasonable cause, excluding notice-default penalty. en-us Wed, 02 Sep 2026 00:00:00 +0530 Sat, 05 Sep 2026 08:44:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798351 Penalty under Section 271AAC(1), being consequential to an addition taxable under Section 115BBE, cannot survive once the Section 69A addition for unexplained money is deleted. Amounts received and deposited by a banking business correspondent on behalf of customers and the bank do not constitute the correspondent's unexplained money. Penalty under Section 272A(1)(d) for non-compliance with statutory notices is not automatic, as Section 273B protects an assessee establishing reasonable cause. Limited familiarity with electronic tax proceedings and absence of deliberate obstruction may constitute reasonable cause, excluding notice-default penalty. Case-Laws Income Tax Wed, 02 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798351