DCIT CEN CIR 7(3), MUMBAI vs. LODHA FINSTOCK P.LTD, MUMBAI
In the result, all the appeals filed by the Revenue are dismissed and cross objections filed by the assessee are allowed
ITA 2578/MUM/2017[2009-10]Status: DisposedITAT Mumbai31 Jan 2020AY 2009-10
Bench: Shri C.N. Prasad, Hon'Ble & Shri Rajesh Kumar, Hon'Ble
271 held that here was reasonable cause u/s. 273B and held as under:-
“3. Regarding Question No.(i) :- (a) The common impugned order of the Tribunal arises from the orders passed by the Addl. Commissioner of Income Tax imposing penalty upon the respondents under Section 271D of the Act for breach of Section 269SS of the Act.
This penalty