https://www.taxtmi.com/caselaws?id=57337 The Tribunal deleted the penalties imposed under Sections 271D and 271E of the IT Act, 1961, as it found that the assessee's actions were bona fide, with no evidence of tax evasion. The penalties were removed as the Tribunal concluded that the transactions were made in good faith to meet urgent requirements and were not intended to evade tax. en-us Fri, 24 Mar 2006 00:00:00 +0530 Tue, 17 Jul 2012 17:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57337 The Tribunal deleted the penalties imposed under Sections 271D and 271E of the IT Act, 1961, as it found that the assessee's actions were bona fide, with no evidence of tax evasion. The penalties were removed as the Tribunal concluded that the transactions were made in good faith to meet urgent requirements and were not intended to evade tax. Case-Laws Income Tax Fri, 24 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57337