Home / 
No Penalty Imposed for Section 271D Breach: Urgent EPF Payment Justified Cash Deposits Against Section 269SS Rules.
X X X X Extracts X X X X
X X X X Extracts X X X X
....Penalty u/s 271D - Journal entries - urgent need to make payment towards EPF - there was cash deposit in the bank account which is contravention of the provisions of Section 269SS (b) - The assessee clearly established that the loan availed by the Director is transferred to the assessee company because of its company is urgent need of cash/finance. - No penalty - AT....