2019 (1) TMI 1077 - SCH - Income Tax

Penalty u/s 271D - failure to comply with Section 269SS - deposits / loans received through journal entries - reasonable cause u/s 273B for entering into such transactions through journal entries - HC clarified / stated the position as always existing in law the receiving of deposits / loans through journal entries would certainly be hit by Section 269SS - Held that - No good ground to entertain this petition. The Special Leave Petition is dismissed.

Summary

The Supreme Court dismissed the Special Leave Petition, citing no good ground to entertain the petition. Delay was condoned, and any pending applications were disposed of.