No penalty U/s. 271D for dealing in cash deposits with rural dwellers, being a reasonable cause for failure

HIGH COURT OF DELHI Commissioner of Income-tax Versus Sahara India Mutual Benefit Co. Ltd. IT Appeal Nos. 846,848,to 851 & 876 of 2011† September 20, 2012 ORDER R.V. Easwar, J. The Revenue has filed these six appeals, two for the assessment year 1993-94 and one each for the assessment years 1992-93, 1996-97, 1999-2000 and 2000-2001. The appeals are directed against the common order of the Income Tax Appellate Tribunal (“Tribunal”) dated 4th November, 2010, upholding the orders of the CIT(A) cancelling the penalties levied on the assessee as follows:- ITA N...