Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2008 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (12) TMI 33 - PUNJAB AND HARYANA HIGH COURTPenalty u/s 271E - repayment of cash loan in violation of Section 269T - assessee did not act deliberately in defiance of law and his conduct was not dishonest, neither he acted in conscious disregard of its obligation, since the transactions were genuine and entered due to business exigency - this breach was a venial breach and flows from a bonafide belief. Therefore, the assessee was not liable to the penalties
|