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Section 271D penalty cannot be imposed for business transactions in cash
Case Law Details
- Case Name
- Deputy Commissioner of Income-tax, Circle 11(1) Vs Forging Ltd. (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2006-07
- Courts
- All ITAT, ITAT Delhi
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IN THE ITAT DELHI BENCH ‘B’
Deputy Commissioner of Income-tax, Circle 11(1)
v/s.
Forging Ltd.
IT Appeal Nos. 5689 & 5690 (Delhi) of 2010
[Assessment year 2006-07]
March, 16, 2012
ORDER
K.G. Bansal Accountant Member – These two appeals regarding leviability of penalty u/s 271D and 271E of the Income-tax Act, 1961 were argued in a consolidated manner by the ld. senior DR and the ld. counsel for the assessee. Therefore, a consolidated order is passed.
1.1 The only substantive ground taken in appeal no. 5689(Del)/2010 is to the effect that the ld. CIT(Appeals) erred in delet...
