Co-op Credit Society Avoids Penalty for Cash Deposits Violation; Penalty Waived Due to Reasonable Cause u/s 273B.

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....Levy of penalty u/s. 271D - violating the provisions of section 269SS - Assessee is a Co-operative credit society and has accepted cash deposits from its members - assessee has been able to show reasonable cause for inadvertent violation of provisions of section 269SS - Penalty waived u/s 273B - AT....