Penalty u/s 271D not automatic. AO should find if there was no reasonable cause
February 3, 2025
Income Tax, ITAT
Penalty u/s 271D not automatic. AO is required to find out that even if there was any failure, the same was without a reasonable cause. In a recent judgment, the Bangalore ITAT has deleted penalty u/s 271D for violation of provisions of section 269SS observing that Levy of …