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 March 2015 Year 2015 This

Penalty u/s 271D - there is nothing to show that there was ...

Income Tax

March 2, 2015

Penalty u/s 271D - there is nothing to show that there was urgency for the assessee to avail the loan in cash in violation of Section 269SS - such a transaction would not come under the exception clause of Section 271D - HC

View Source

 


 

You may also like:

  1. Penalty u/s 271D - Acceptance of loan in Cash by the appellant firm from its agriculturist customer - violation of provisions of section 269SS - penalty confirmed - HC

  2. Penalty u/s 271D - default u/s 269SS - assessee has taken loan from his father and paternal aunt, who are family members and such transactions would not attract penalty u/s 271D

  3. Penalty u/s 271D - Default u/s 269SS - loans in question were received by the assessee in cash from her daughter and son-in-law - no penalty leviable

  4. Penalty u/s 271D - Default in accepting the cash loan in violation of section 269SS - urgency of matter - Since, the stamp duty for registration of property was to be...

  5. Violation of section 269SS and 269T - cheque discounting business - The assessee had to discount the cheque for cash - There was no question of levying any penalty under...

  6. Penalty u/s 271D - receipt in cash being undisclosed income - Loan or advance is a sine qua non or foundational fact for the applicability of the provisions of Section...

  7. 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...

  8. Loan or deposit - Section 269SS - Penalty u/s 271D -transactions effected through journal entries - no penalty - HC

  9. 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...

  10. Violation of section 269SS – Cash accepted exceeding the limit – The identity of those persons has also been well established - assessee also had given satisfactory...

 

Quick Updates:Latest Updates