https://www.taxtmi.com/caselaws?id=57085 The Tribunal concluded that the penalties imposed under Section 271D of the Income-tax Act were not justified. The penalties were set aside, and the penalties for the assessment years 1995-96 and 1996-97 were deleted. The Tribunal found that the assessees acted under a bona fide belief and were not guilty of contumacious or dishonest conduct. The appeals were allowed, and the penalties were ultimately removed. en-us Thu, 27 Oct 2005 00:00:00 +0530 Wed, 08 Dec 2010 14:14:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57085 The Tribunal concluded that the penalties imposed under Section 271D of the Income-tax Act were not justified. The penalties were set aside, and the penalties for the assessment years 1995-96 and 1996-97 were deleted. The Tribunal found that the assessees acted under a bona fide belief and were not guilty of contumacious or dishonest conduct. The appeals were allowed, and the penalties were ultimately removed. Case-Laws Income Tax Thu, 27 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57085