2023 (7) TMI 1053 - SCH - Income Tax

Penalty u/s 271D 271E - acceptance and repayment of loan or deposit in excess of Rs. 20, 000/- in cash from/to any other person - violation of the provisions of Section 269SS and Section 269T - HC confirmed order of Tribunal in accepting the assessee s explanation that there existed reasonable cause in mobilizing these deposits in rural and semi-urban areas within the meaning of Section 273B - HELD THAT - SLP dismissed.