High Court Overturns Tribunal's Decision on Penalties u/ss 271D and 271E for Loan and Deposit Violations.

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....Penalty u/s 271D and 271E - violation of Sections 269SS and 269T - repeated mistake - penalty for earlier years was dropped - Tribunal fell in error in upholding the imposition of penalty by just observing that the Assessee ought not have repeated such a mistake and ought to have done the transaction only through Bank - HC....