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COMMISSIONER OF INCOME-TAX Versus SUNIL KUMAR GOEL - 2009 (3) TMI 131 - PUNJAB AND HARYANA HIGH COURT - Income Tax
Cash Loan - Penalty u/s 271D and 271E Violation of section 269SS Held that - assessee had produced his cash books, depicting loans taken by him unilaterally before the Revenue - no prejudice was caused to the Revenue - assessee did not attempt by the impugned act to avoid any tax liability - there is no dispute about the fact that the instant cash transactions of the respondent assessee were with the sister concern and that these transactions wer........