Levy of penalty u/s 271D – it is not legally correct to contend ...

Section 271D Penalty: Assessee and Members Are Separate Entities; Transactions Fall u/s 269SS Rules.

December 1, 2014

Case Laws Income Tax AT

Levy of penalty u/s 271D – it is not legally correct to contend that the assessee and its members are one and the same person and the transactions with the members are outside the scope of s. 269SS - AT

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Levy of penalty u/s 271D – it is not legally correct to contend ...

Section 271D Penalty: Assessee and Members Are Separate Entities; Transactions Fall u/s 269SS Rules.

December 1, 2014

Case Laws Income Tax AT

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Penalty levied u/s 271D - assessee has availed cash loan in contravention of provision of section 269SS - Assessee has submitted that though the assessee has initially...

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...

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Penalty u/s 271D - loan amount obtained in cash from Directors in emergency - violation of provision of section 269SS - the assessee that on the different dates assessee...

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