Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2009 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2009 (12) TMI 682 - AT - Income TaxPenalty under section 271E - violation of section 269T – repayment of unsecured loan – Held that:- It is not a repayment of deposit - Since the amendment with effect from 1-6-2003, no penalty is-imposable in the present case under section 271E because the repayments are during January, 2003 to March, 2003 of unsecured loans/advances from customers and not of any deposit and hence there is no violation of section 269T – in favor of assessee
|