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2017 (8) TMI 615 - HC - Income TaxLevy of penalty under Sections 271E and 271D - violation of Sections 269SS and 269T by reason of receipt of cash loan and repayment of loan in cash during the same assessment year - existence of substantial question of law - Held that:- Learned Commissioner of Income Tax (Appeals) arrived at the factual finding that provisions of Sections 269SS and 269T were clearly attracted as the contention of the representative of the Assessee that each of the transaction and repayment were below ₹ 20,000.00 was unsubstantiated. The Assessee appealed before the Tribunal and the appeals have also been dismissed holding that violation of Sections 269SS and 269T of the IT Act attract penalty. The imposition of penalty has been upheld. An appeal lies under Section 260-A of the IT Act, only when there is a substantial question of law. We find that there is no question of law involved in this appeal much less any substantial question of law. Right of appeal is not automatic. Right of appeal is conferred by statute. When statute confers a limited right of appeal only in a case which involves substantial questions of law, it is not open to this Court to sit in appeal over the factual findings arrived at by the Assessing Officer, Appellate Commissioner and the Appellate Tribunal. Hence, both these appeals cannot be entertained.
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