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2002 (11) TMI 13 - HC - Income TaxPenalty u/s 271D – violation of provision of section 269SS – receiving the money in cash - By the impugned order the Tribunal has upheld the order passed by the Commissioner of Income-tax (Appeals), whereby penalty levied on the respondent/assessee under section 271D was deleted - Tribunal's order shows that the conclusion of the Tribunal that there was a reasonable cause in not strictly complying with the provisions of section 26955 of the Act is based on relevant factors. The view taken by the Tribunal is not either perverse or so irrational that no reasonable person, on the given facts, would have come to the same conclusion
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