No Penalty For failure to comply with section 269SS if Reasonable cause exist

HIGH COURT OF DELHI Commissioner of Income-tax Versus Sahara India Financial Corpn. Ltd. IT APPEAL NOS. 637, 638, 640 & 646 OF 2011 SEPTEMBER 20, 2012 JUDGMENT R.V. Easwar, J. These are four appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961 (‘Act’, for short). They are directed against the common order passed by the Income Tax Appellate Tribunal, New Delhi Bench-G ON 17.09.2010 in ITA No.3222-3225/Del/2009 confirming the orders passed by the CIT (Appeals) cancelling the penalty imposed on the assessee under Section 271D of the Act. The...