Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2004 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2004 (3) TMI 328 - AT - Income TaxExtract: .......ee (HUF) does not amount to loan or deposit within the meaning of s. 269SS of the Act and as such, no penalty is leviable under s. 271D of the Act. Accordingly, we cancel the penalty of Rs. 10,000 as confirmed by the learned CIT(A) by allowing the ground of appeal taken by the assessee. 7. In the result, the appeal filed by the assessee is allowed.
|