Penalty u/s 271E - section 269T is applicable only on repayment ...

Case Laws Income Tax

April 4, 2016

Penalty u/s 271E - section 269T is applicable only on repayment of any loan or deposit taken by the assessee - at the time of repayment in cash there was no unsecured loan standing in the books of assessee - rather there was debit balance in the account of payee - No penalty - AT

View Source

← Previous Next →

Penalty u/s 271E - section 269T is applicable only on repayment ...

Case Laws Income Tax

April 4, 2016

You may also like:

Levying penalty u/s 271D - Accepting loan / deposits in cash from relatives in violation of section 269SS - the assessee has taken loans from relatives to finance her...

Penalty u/s 271D and penalty u/s. 271E - Default u/s 269SS and u/s 269T - Loan/deposits taken/paid by the assessee in cash is more than Rs.20,000/- - after evaluating...

Penalty u/s 271D - taking and repaying back of loan in cash - Relief granted by the CIT(A) based on under Negotiable Instrument act, for guilty for dishonouring of...

Penalty u/s 271E - repayment of deposits in cash made by the assessee to her related persons - default u/s 269T - the burden entirely lay upon AO first to establish that...

Penalty u/s 271E and 271D - cash deposits and repayment of deposits - assessee is a co-operative society involved in the activity of granting thrift and credit...

The ITAT Mumbai, in a case involving addition u/s 68 for unexplained cash credit from loans taken from various parties, held that only loans taken during the current...

Penalty u/s 271E - repayment of the loans in question in cash - default u/s 269SS - reasonable cause - the repayment of advances from regular parties are identifiable...

Penalty u/s 271D & 271E - Contravention of provisions of Section 269SS & 269TT - Accepting and repayment of loans / deposits in Cash from the Managing Director of the...

Addition u/s 68 - Unexplained cash deposits - The assessee’s contention that the loan has been repaid as he could not buy the residential property due to some...

Penalty u/s 271 D - default u/s 269SS - Assessee had accepted the loans in cash - as pe assessee both the entities from whom the cash loan was taken were partnership...

Penalty levied u/s. 271D - assessee had taken loan from his brother and his mother in cash for the purpose of purchase of residential property - There is nothing on...

Penalty u/s 271D and 271E - violation of provision of section 269SS and 269T - Loan or deposits in Cash - Belief on the part of the assessee in view of the past history...

Addition for the Term Loan taken waiver of secured loan - when the assessee had not claimed deduction under Section 36(1)(iii) of the Act for interest on loan and loan...

Violation of the provisions of Sections 269SS and 269T - scope of the term "loan" and "deposit" - Penalty u/s 271D and 271E - amount received on account of share...

Refund of deposits - Requirement to issue SCN - Section 11AC (1)(d) of CEA - time limitation - the amount deposited by the appellant-assessee pursuant to audit letter,...

Quick Updates: