Home Case Index All Cases Income Tax Income Tax + SCH Income Tax - 2019 (1) TMI SCH This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (1) TMI 1991 - SCH - Income TaxPenalty u/s 271D - failure to comply with Section 269SS - reasonable cause u/s 273B for entering into such transactions through journal entries - failure to comply with Section 269SS was on account of reasonable cause on the part of the respondents - as per HC view taken by the Tribunal in the impugned order holding that no penalty can be imposed upon the respondents as there was a reasonable cause in terms of Section 271B of the Act for having received loans / deposits through journal entries is at the very least is a possible view in the facts of the case - HELD THAT:- We do not find any good ground to interfere with the impugned order passed by the High Court. The special leave petition is, accordingly, dismissed. Pending application(s), if any, stands disposed of.
|