Penalty u/s 271E - Company has directly repaid the loan taken ...

Company Avoids Penalty: Loan Repayment to Director's Bank Account Not in Cash, No Section 271E Violation.

March 26, 2016

Case Laws Income Tax AT

Penalty u/s 271E - Company has directly repaid the loan taken from Director to Bank - violation of section 269T - The assessee has demonstrated that under the compulsion the payment was directly credited in the bank account of the Director. Strictly it was not paid in cash - No penalty - AT

View Source

← Previous Next →

Penalty u/s 271E - Company has directly repaid the loan taken ...

Company Avoids Penalty: Loan Repayment to Director's Bank Account Not in Cash, No Section 271E Violation.

March 26, 2016

Case Laws Income Tax AT

You may also like:

Penalty u/s 271-D and 271-E - accepting loan in cash from the director of the company - The tribunal held that, the assessee`s case under consideration the transactions...

Seeking to lift attachment of Bank Accounts - recovery of dues payable by the Company - when it comes to recovering the dues from the company towards liability incurred...

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...

Seeking lifting of attachment on Bank Accounts of Directors - recovery of dues of the company, while the bank accounts of Directors were attached - The attachment on the...

Penalty invoking the provisions of section 271D - Managing Director of the assessee company had extended cash to the company - loan or deposits u/s 269SS - By invoking...

Unsecured loan received from the directors - Additions u/s 68 - The explanation offered by the assessee that the bank account and the capacity of the creditor who have...

Penalty u/s 271D - Default u/s 269SS - cash loan(s) availed form its Managing Director in current account - day-to-day emergency expenses - AO directed to examine that...

Unexplained money u/s 69A - Unexplained loan - the loan creditors had deposited cash in their accounts and mostly on the very same day they had transferred the same to...

Deemed dividend u/s 2(22))e) - repayment of loan or advance by the Company

Levy of penalty u/s 271D - violation of the provisions of section 269SS - cash loan received from director - transactions between appellant company and director are in...

Penalty u/s 271E - violation of the provision of section 269T - assessee has repaid the loans and advances received from various creditors otherwise than by crossed...

Vicarious liability of Additional Director - Non-executive Independent Directors or not - Officer in default - non repayment of deposits by the Company to the depositors...

Loans to directors, etc - to limit the prohibition on loans, advances, etc., to directors of the company or its holding company or any partner of such director or any...

Levy of penalty upon the Director of appellant’s company and upon Head of Finance and Accounts of the appellants’ company and upon the company itself - The SCN is held...

Loans to directors, etc - allows a company to give loan or guarantee or provide security to any person in whom any of the director is interested subject to passing of...

Quick Updates: