https://www.taxtmi.com/caselaws?id=56028 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the penalty of Rs. 13,44,999 under s. 271D. It concurred that the transactions, executed via journal entries without actual cash movement, did not breach s. 269SS. The Tribunal recognized a reasonable cause under s. 273B, noting the transactions were between sister concerns for urgent business needs, thus validating the CIT(A)'s findings. en-us Tue, 28 Oct 2003 00:00:00 +0530 Thu, 04 Jul 2024 13:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56028 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the penalty of Rs. 13,44,999 under s. 271D. It concurred that the transactions, executed via journal entries without actual cash movement, did not breach s. 269SS. The Tribunal recognized a reasonable cause under s. 273B, noting the transactions were between sister concerns for urgent business needs, thus validating the CIT(A)'s findings. Case-Laws Income Tax Tue, 28 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56028