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Cash wrongly deposited in bank A/c of Appellant: ITAT deletes Section 271D penalty
Case Law Details
- Case Name
- Opaque Ceramics Pvt. Ltd. Vs Addl. CIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Ahmedabad
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Opaque Ceramics Pvt. Ltd. Vs Addl. CIT (ITAT Ahmedabad)
It is evident that the assessee had received cash amounts, but deposited in its Bank A/c which is in violation of the provisions contained in Section 269SS. But like any other penalty, the operation of Section 271D with reference to the violation of the provisions contained in Section 269SS also is not automatic. Section 273B has provided a statutory fetter to the automatic application of Section 271D. It provides that no penalty shall be imposable on a person under these provisions for any violation, if the person could establish the exi...
