Penalty U/s. 271D for cash deposit with Reasonable cause from identifiable agriculturists not justified

Punjab and Haryana High Court held in the case of Pr. CIT Vs Tehal Singh Khara & Sons that Penalty under section 271D of Income Tax Act, 1961 not justified for Contravention of section 269SS if assessee had given reasonable cause for entering into the cash transactions, as creditors from whom the cash was received and repaid were identifiable agriculturists and there was confirmation of the money having been deposited and returned. The assessing officer in his remand report submitted that the persons from whom cash was received and was subsequently repaid were identifiable agriculturists. ...