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Levy of penalty u/s 271E r.w.s. 269T - reasonable cause - the assessee’s decision in favour of squiring up of the loans account through passing of journal entries, shall constitute a reasonable cause on the facts of the present case.

Income Tax - Levy of penalty u/s 271E r.w.s. 269T - reasonable cause - the assessee’s decision in favour of squiring up of the loans account through passing of journal entries, shall constitute a reasonable cause on the facts of the present case. - TMI Updates - Highlights ..... .....

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