Penalty u/s 271D - Default in accepting the cash loan in ...

Income Tax

September 27, 2018

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 paid urgently, the assessee had no other option but to avail the cash loan from the directors. - No penalty.

View Source

← Previous Next →

Penalty u/s 271D - Default in accepting the cash loan in ...

Income Tax

September 27, 2018

You may also like:

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

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

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

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

Penalty u/s 271D & 271E - default committed in violation of section 269SS & 269T - Reliance on search proceeding documents - Transactions being mere book entries -...

Penalty u/s 271D - urgency and compulsion to take loan in cash - default u/s 269SS - o justification for accepting loans in cash even through banking channels were...

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...

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...

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 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...

Quick Updates: