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2021 (7) TMI 1097 - AT - Income TaxLevy of the penalty u/s 271D - assessee has violated provision of section 269SS - HELD THAT:- As decided in own case [2020 (6) TMI 410 - ITAT DELHI] there is no cash transaction entered into by the assessee with Shri Sant Lal Agarwal, the whole foundation for levy of the penalty u/s 271D has crashed. No information was placed before us by the departmental representative that the above order of the coordinate bench has been challenged or upset by the higher forum. Thus, the finding of the coordinate bench binds us - we do not have any other alternative but to quash the penalty levied by the learned assessing officer and confirmed by the learned CIT – A u/s 271D.
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