Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights March 2014 Year 2014 This

Contravention of section 269SS – Penalty u/s 271DD – the ...

Income Tax

March 7, 2014

Contravention of section 269SS – Penalty u/s 271DD – the contribution made by the respective persons was treated as a loan and the explanation that they were to be made partners later was not accepted - penalty confirmed - HC

View Source

 


 

You may also like:

  1. Violation of section 269SS – Cash accepted exceeding the limit – The identity of those persons has also been well established - assessee also had given satisfactory...

  2. Penalty u/s 271D & 271E - default committed in violation of section 269SS & 269T - Reliance on search proceeding documents - Transactions being mere book entries -...

  3. Penalty u/s 271D - default u/s 269SS - assessee has taken loan from his father and paternal aunt, who are family members and such transactions would not attract penalty u/s 271D

  4. Penalty u/s 271D - Default u/s 269SS - loans in question were received by the assessee in cash from her daughter and son-in-law - no penalty leviable

  5. Penalty u/s 271D - receipt in cash being undisclosed income - Loan or advance is a sine qua non or foundational fact for the applicability of the provisions of Section...

  6. Penalty levied u/s 271D - capital contributed by the partner in the partnership firm does not tantamount to loan or deposit within the meaning of section 269SS - No penalty - AT

  7. Penalty u/s 271D - Acceptance of loan in Cash by the appellant firm from its agriculturist customer - violation of provisions of section 269SS - penalty confirmed - HC

  8. Penalty u/s 271D - whether provisions of section 269SS are attracted to the amounts received from sister concern - no penalty - HC

  9. Penalty u/s 271D - violation of Section 269SS ranged from just 1.1% to 6.14% for the years under appeal - no penalty - HC

  10. Loan or deposit - Section 269SS - Penalty u/s 271D -transactions effected through journal entries - no penalty - HC

 

Quick Updates:Latest Updates