Penalty u/s 271D imposed without any satisfaction is unsustainable

DCIT Vs Deepak Kumar (ITAT Delhi)

ITAT Delhi held that penalty u/s 271D of the Income Tax Act is without any satisfaction and, therefore, no such penalty can be levied. Accordingly, penalty u/s 271D quashed.

Facts- Revenue has preferred the present appeal contesting that CIT(A) has erred in deleting the penalty u/s 271D of the Income Tax Act despite the fact that payment made by M/s. Spaze Towers Pvt. Ltd. to the assessee by making cash payments in violation of provisions of section 269SS of the Incom

Please become a Premium member. If you are already a Premium member, login here to access the full content.