Assessing Officer held  that assessee-society conducted finance business by violating section 269SS by accepting deposits in cash from various clients, exceeding sum of Rs. 20,000 and, thus, imposed penalty proceedings under section 271D  of the Act. Order of penalty was up held by the Tribunal. On appeal dismissing the contention that ignorance of provisions or lack of banking facility in area, etc., could not be accepted as reasonable cause for accepting deposits in cash when assessee was doing large scale finance business dealing with public. There being nothing to indicate that assessee had got any registration as a banking company, or that assessee was a non-banking financing company,  contention of assessee that it would fall within exempted category of banking company contained under 1st proviso to section 269SS could not be accepted. Levy of penalty is affirmed. (AY. 2005-06)