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2019 (2) TMI 523 - ITAT PUNEPenalty u/s 271D - assessee taken loan in cash exceeding permissible limits - Held that:- Penalty has been imposed for violation of provisions of section 269SS of the Act, which ex facie, appears to be correct. In the absence of any explanation forthcoming from the side of the assessee, we are convinced that the authorities below have taken a reasonable view in the given facts in imposing and confirming the penalty u/s.271D of the Act. We, therefore, uphold the same. - Decided against assessee.
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