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Income Tax - Highlights / Catch Notes

Home Highlights September 2014 Year 2014 This

Penalty u/s 271D – Sufficient cause as provided u/s 273B – It ...

Income Tax

September 19, 2014

Penalty u/s 271D – Sufficient cause as provided u/s 273B – It was a widespread, even if erroneous, belief that the provisions of Section 269 SS do not apply to the credit cooperative societies - no penalty - AT

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  2. Levy of penalty u/s.271D/271E - transaction by passing a journal entry - proof of reasonable cause u/s 273B - the business constraint and exigency and administrative...

  3. Levying penalty u/s 271D - violation of section 269SS - “reasonable cause” u/s 273B - sale of property - total consideration assessee received part by demand draft and...

  4. 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...

  5. Penalty levied u/s. 271D r.w.s. 273B - reasonable cause for the assessee to accept loan over ₹ 20,000/- in cash - levy of penalty confirmed.

  6. Penalty u/s 271D - accepting loan in cash - reasonable cause - the AO has neither doubted the impugned transaction nor any addition made in this behalf even under...

  7. Penalty u/s 271D - reasonable cause - mere proof regarding genuineness of the transaction or the intention in accepting the amounts in cash or that there was no attempt...

  8. Penalty u/s. 271D - contravention to Section 269SS - reasonable cause - staff filled the name of the depositor correctly but the account number was wrongly mentioned -...

  9. Penalty levied u/s. 271D - transactions through journal entries - assessee shall be deemed to have had reasonable cause to receive the deposits/loans through journal...

  10. Levy of penalty u/s 271D - Cash transaction in connection with violation of section 269SS - reasonable cause - Sale of residential flats to an agriculturist - cash sale...

  11. Levy of penalty u/s.271D - assessee had taken cash loan from her husband and mother-in-law which has been repaid in cash - the expression “reasonable cause” in section...

  12. Penalty u/s 271D - violation of section 269SS - Reasonable Cause u/s 273B - The claim of the assessee is that receipt of money by way of cash itself is a reasonable...

  13. Penalty u/s 271D - Accepting cash loans - contravention of the provisions of section 269SS ad 269T - Penalty u/s 271D is subject to the provisions of section 273B and...

  14. Penalty u/s 271D - violation of provisions u/s 269SS - cash receipt claimed as advance against sales - recording of the satisfaction by the AO is sine qua non for...

  15. Penalty u/s 271D and 271E - creation/ assignment of debt and liabilities vide journal entries - These entries arise in the normal course of day to day business...

 

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