High Court rules no penalty u/s 271D for reclassified Rs. 40,00,000 transaction as capital contribution by AOP member.

Penalty u/s 271D - violation of the provisions of section 269SS or not - treating the deposit/loan of ₹ 40,00,000/- as capital contribution of the member of AOP, for the AOP - transactions are genuine - no penalty - HC .....

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