Penalty u/s 271D - Even if, the Assessee has explained the ...

Income Tax

February 23, 2018

Penalty u/s 271D - Even if, the Assessee has explained the identity, the source and genuineness of receipt in cash for the purpose of Section 68, would not by itself permit / allow a party to obtain loans in cash in breach of Section 269 SS of the Act. - HC

View Source

← Previous Next →

Penalty u/s 271D - Even if, the Assessee has explained the ...

Income Tax

February 23, 2018

You may also like:

Addition on account of un-explained loan - assessee discharged its initial onus to prove the identity of the investor company, its creditworthiness and genuineness of...

Addition u/s 68 - onus to prove the identity, creditworthiness and genuineness of the share applicants - Both the nature & source of the share application received was...

Penalty u/s 271D – Cash loans received from creditors – the genuineness of the creditors have been verified and the transactions were never doubted by the Authorities...

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...

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...

Addition u/s 68 - Unexplained cash deposits - Provision to section 68 inserted w.e.f. 1.4.2013 requires the assessee to prove the source of source. This proviso shall...

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...

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

Unexplained share capital/share premium - proof of genuine investors - the assessee has been able to prove identity of the share applicants, their creditworthiness and...

Unexplained unsecured loan - the necessary papers to establish genuineness of the transaction were filed and the assessee had proved beyond doubt the identity of the...

Quick Updates: