https://www.taxtmi.com/caselaws?id=59079 The Tribunal partially allowed the appeals against penalties imposed under sections 271D and 271E for the assessment year 1989-90. The penalties were reduced to 50% of the cash transaction amounts after re-examination by the Assessing Officer to differentiate between deposits and loan repayments. The Tribunal emphasized the need for compliance with statutory provisions and fair imposition of penalties based on the specific circumstances of the case. en-us Mon, 17 May 1993 00:00:00 +0530 Thu, 23 Dec 2010 18:01:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59079 The Tribunal partially allowed the appeals against penalties imposed under sections 271D and 271E for the assessment year 1989-90. The penalties were reduced to 50% of the cash transaction amounts after re-examination by the Assessing Officer to differentiate between deposits and loan repayments. The Tribunal emphasized the need for compliance with statutory provisions and fair imposition of penalties based on the specific circumstances of the case. Case-Laws Income Tax Mon, 17 May 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59079