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2006 (12) TMI 124 - HC - Income Tax
Loan in cash exceeding prescribed limit - AO found that the assessee had taken a cash loan violating the provisions of section 269SS and repaid the amount in cash violating section 269T - Tribunal was right in holding that penalty u/s 271D & 271E cannot be imposed for violation of section 269SS & 269T respectively, if there is no intention to evade tax and the transactions are genuine