Penalties u/ss 271D and 271E Not Applicable for Journal Entries Due to Reasonable Cause u/s 273B.

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....Levy of penalty u/s.271D/271E - transaction by passing a journal entry - proof of reasonable cause u/s 273B - the business constraint and exigency and administrative convenience itself constitutes reasonable cause within the meaning of section 273B of the Act . Hence no penalty u/s 271D and 271E of the Act could be invoked for the same - AT....