2015 (8) TMI 992 - ALLAHABAD HIGH COURT
Commissioner of Income Tax-II, Agra Versus Smt. Dimpal Yadav, Akhilesh Kumar Yadav, Etawah
Penalty under Section 271D - violation of provisions of Section 269SS - assessee filed her reply stating that since she did not had the requisite funds at that point of time and the funds were urgently required for conversion of the property, a loan .....
2015 (10) TMI 321 - MADRAS HIGH COURT
M/s Khizaria Leathers Versus The Deputy Commissioner of Income Tax Special Range III, Chennai
Levy of penalty under Section 271D - Whether the Tribunal is correct in concluding that the provisions of Section 269SS of the Act were attracted to the transactions under consideration with a view to levy penalty under Section 271D of the Act? - whe.....
2015 (8) TMI 663 - BOMBAY HIGH COURT
Commissioner of Income Tax, Valsad Versus Shri Vishwendra B. Panwar
Penalty levied u/s 271D - violation of provisions of section 269SS - Tribunal deleted penalty levy - Low tax effect - Held that - The Central Board for Direct Tax (CBDT) has issued Instruction No.5 of 2014 and in line with its earlier Instruction No......
2015 (8) TMI 1214 - KERALA HIGH COURT
Grihalakshmi Vision Versus The Additional Commissioner of Income Tax
Penalty levied u/s 271D and 271E - cash loans taken by the assessee in contravention of 261SS - Tribunal was correct in holding that the orders imposing penalty under Section 271D and E were passed within the period of limitation prescribed under Sec.....
2015 (8) TMI 1153 - ITAT HYDERABAD
Mr. Ch. Govardhan Naidu, Prodduturu. Versus DCIT, Central Circle-1 (2) , Hyderabad.
Revision u/s 263 - errors in the orders passed by the A.O. under section 143(3) read with section 153A for all the five years - agricultural income was accepted by the A.O. without making necessary enquiries - Held that - It is observed that in the c.....
2015 (7) TMI 331 - ITAT PUNE
The Assistant Commissioner of Income Tax, Circle – 2, Solapur Versus Kailaswasi Sambhajirao Garad Shikshan Prasarak Mandal
Penalty levied u/s. 271D and 271E - assessee accepted the cash deposits and repaid the same in cash in violation of the provisions of section 269SS and 269T - CIT(A) deleted the penalty levy - Held that - It is an undisputed fact that the assessee ac.....
2015 (7) TMI 326 - ITAT PUNE
Shri Prakash Harinarayan Mantri Versus Addl. Commissioner of Income Tax, Range – 1, Aurangabad
Levy of penalty under section 271D - violation of the provisions of section 269SS - Held that - In the instant case the assessee was categorically denying from the very beginning regarding acceptance of such cash loan from Shri K.N. Mutha and since t.....
2015 (7) TMI 201 - ITAT HYDERABAD
Shri Venkateswara Reddy Kasireddy Versus Income Tax Officer Ward 9 (3) Hyderabad
Penalty u/s 271D - violating the provisions of section 269SS - Held that - The confirmation letter from the creditor has been produced. The assessee brought out the need for taking loan in cash by giving reason that financial loss would be incurred i.....
2015 (9) TMI 1102 - ITAT DELHI
Envogue Wood Working Pvt. Ltd. Versus ACIT, Range-11, New Delhi
Penalty u/s 271E - violating the provisions of section 269SS and Section 269T - Held that - On a consideration of the entire factual matrix and the judicial precedent thereon in the facts of the present case, we are of the view that there was bonafid.....
2015 (8) TMI 832 - ITAT HYDERABAD
The Income Tax Officer Ward-16 (1) , Hyderabad Versus M/s Minopharm Laboratories Ltd.
Penalty u/s. 271D - Payment made by the Directors to the creditors to save the company from litigation - Violation of Section 269S and 269T - Transaction is reflected in the books of accounts through Journal Entries - CIT(A) deleted penalty levy - He.....
2015 (6) TMI 396 - ITAT JAIPUR
M/s Govind Kripa Buildmart Pvt. Ltd. and others Versus Joint Commissioner of Income Tax and others
Penalty U/s 271D and 271E - period of limitation - violation of conditions of conditions of section 269SS - Cash receipts - Held that - For imposition penalty U/s 271D and 271E is covered U/s 275(1)(c) of the Act. As per Section 275(1)(c) of the Act,.....
2015 (8) TMI 693 - ITAT KOLKATA
M. Dhara & Brothers Versus Commissioner of Income-tax-XVI, Kolkata
Penalty proceedings u/s. 271D - violation of section 269SS - revision order passed by CIT u/s. 263 - Held that - Hon ble Calcutta High Court in the case of CIT vs. Linotype & Machinery Ltd., (1989 (7) TMI 9 - CALCUTTA High Court) held that the fa.....
2015 (5) TMI 470 - ITAT MUMBAI
M/s. Shreepati Developer & Builder Ltd. Versus The Addl. Commissioner of Income Tax
Penalty levied under section 271D & 271E - Repayment of loan by any other mode except by way of account payee cheque/draft - transfer of amount by way of Journal entries. - Held that - In the case in hand, the transactions were carried out betwee.....
2015 (4) TMI 509 - CALCUTTA HIGH COURT
Shri Krishnapada Chanda Versus Commissioner of Income Tax-XI
Penalty under section 271D - Tribunal confirmed penalty levy - Held that - The fact that money was withdrawn on 6th May, 1998 from the bank account of the lender and the fact that the money was deposited in the bank account of the borrower on 6th May.....
2015 (7) TMI 848 - MADRAS HIGH COURT
P. Muthukaruppan Versus The Joint Commissioner of Income Tax, Pondicherry Range, Pondicherry
Penalty u/s 271D and u/s 271E - accepting and repayment of loan in cash in excess of ₹ 20,000/- within the purview of the provisions in section 269SS and section 269T - Held that - The sworn statement recorded from Mr.A.Kannan, Prop. of M/s Vad.....