Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights February 2014 Year 2014 This

Advances not submitted as per section 269SS and 269T of the Act ...


Court Rules No Penalty for Non-Compliant Advances; Not Considered Loans or Deposits u/ss 269SS, 269T.

February 14, 2014

Case Laws     Income Tax     HC

Advances not submitted as per section 269SS and 269T of the Act - Penalty u/s 271E of the Act – No penalty being advances in not in the nature of loan or deposit - HC

View Source

 


 

You may also like:

  1. Violation of the provisions of Sections 269SS and 269T - scope of the term "loan" and "deposit" - Penalty u/s 271D and 271E - amount received on account of share...

  2. Levy of penalty u/ss 271D and 271E was challenged - default u/ss 269SS and 269T - assessee received and repaid cash loans from directors and related concerns - assessee...

  3. The Punjab and Haryana High Court held that undisclosed income found during a search, related to a pawning business, falls within the scope of Section 269SS of the...

  4. Penalty u/s 271D & 271E - default committed in violation of section 269SS & 269T - Reliance on search proceeding documents - Transactions being mere book entries -...

  5. Penalty levied u/s 271D and 271E - accepting deposits by way of journal entries - assessee had accepted/paid loans in contravention of provision of section 269SS/269T -...

  6. The case involved a challenge to penalty orders u/ss 271D and 271E before the Appellate Tribunal. The issue revolved around the reassessment proceedings being quashed,...

  7. Penalties levied u/ss 271D and 271E were challenged. The assessee was found to have violated Sections 269SS and 269T. However, there was no concrete finding that the...

  8. Scope of Deposits - amounts collected by the petitioners for sale of immovable property as advance - would come under the purview of ‘deposits’ or would exempt from the...

  9. Penalty u/s 271D and penalty u/s. 271E - Default u/s 269SS and u/s 269T - Loan/deposits taken/paid by the assessee in cash is more than Rs.20,000/- - after evaluating...

  10. Penalty u/s 271D and 271E - violation of provision of section 269SS and 269T - Loan or deposits in Cash - Belief on the part of the assessee in view of the past history...

  11. The High Court held that respondent No. 3 cannot avoid deciding the petitioners' application dated 20 December 2023 seeking an advance ruling on the taxability of sale...

  12. Penalty u/s 271E - Advances repaid by assessee - Contravention of Section 269T - Whether the Appellate Tribunal has substantially erred in holding that advances against...

  13. Penalty levied u/s 271D for contravention of Section 269SS, which restricts cash transactions above a specified sum for immovable property. The key points are: The...

  14. Levy of penalty - Applicability of the substituted rule for imposition of penalty - The Supreme Court sided with the appellant, holding that the substituted rule from...

  15. The High Court held that for levying penalty u/s 271D for violation of Section 269SS, the Assessing Officer must record satisfaction that the provisions were violated....

 

Quick Updates:Latest Updates