Penalty levied u/s 271D and 271E - cash loans taken by the assessee in contravention of 261SS - There...

Penalty levied u/s 271D and 271E - cash loans taken by the assessee in contravention of 261SS - There is no law that every receipt from a partner or a sister concern cannot, in all circumstances, be treated as a loan or deposit. - levy of penalty confirmed - HC .....

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