Penalty u/s 271E may not be imposed where circumstances compels assessee to make repayment in cash

Brief of the Case

ITAT Mumbai held In the case of Jayantilal Vaishnav HUF vs. JCIT that the reasonable cause u/s 273B need to be seen from the context of the situation where a person is reasonably and under bonafide belief of taking a action beyond hi

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