Income Tax Penalty Procedings

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  1. At the time of assessment income has been disallowed the cash payment of Rs.2,50,000/- & Rs.3,40,706/- in violation of section 40(a)(ia) of Income Tax Act, 1961 and the entire demand amount has been fully paid. Appeal rejected. Now what will be ground to get relief from the penalty procedings u/s.271(1)(c) of Income Tax Act, 1961.

    Please advise.
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