Section 271D Penalty Not Valid If Assessee Bonafidely explains Reasonable Cause.(23.02.2021) Leave a Comment / Daily Updates / By Team Bizsol Section 271D Penalty Not Valid If Assessee Bonafidely explains Reasonable Cause. [Case Law Bapujibuwa Nagari Sahakari Pat Sanstha Maryadit VS JCIT (ITAT Pune)]