In the result, appeal filed by the assessee is allowed
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
u/s 271D is illegal, invalid and bad in law. 7. Any other ground shall be prayed at the time of hearing.‖ 3. The core issue arising out of the aforesaid grounds of appeal relates to levy of penalty of ` 6,51,000, under Section 271-D of the Income Tax Act, 1961 (―the Act‖) for the violation of provisions