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 November 2018 Year 2018 This

Levy of penalty u/s.271D - assessee has not been able to ...

Income Tax

November 28, 2018

Levy of penalty u/s.271D - assessee has not been able to substantiate its claim for receiving amounts in cash - A deposit need not be interest bearing. So also a loan - levy of penalty confirmed.

View Source

 


 

You may also like:

  1. Penalty under section 271(1)(c) - disallowance of depreciation - he explanation given by the assessee for the claim of depreciation is neither bona fide nor...

  2. Penalty u/s 271D - whether provisions of section 269SS are attracted to the amounts received from sister concern - no penalty - HC

  3. Penalty levied u/s. 271D r.w.s. 273B - reasonable cause for the assessee to accept loan over ₹ 20,000/- in cash - levy of penalty confirmed.

  4. Penalty u/s 271(1)(c) deleted – the act of the assessee was bonafide even though the assessee may have failed to substantiate its claim that the amount was capital receipt - HC

  5. 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...

  6. 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

  7. Levying penalty u/s 271D - violation of section 269SS - “reasonable cause” u/s 273B - sale of property - total consideration assessee received part by demand draft and...

  8. Levy of penalty u/s 271D - Receipt of deposits in cash in contravention of provisions of section 269SS - The assessee explained before the authorities below that two of...

  9. 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...

  10. Penalty u/s 271D - amount accepted by the assessee in cash - advance received against sale of land - Section 269SS refers to the loan or deposit received in cash and...

 

Quick Updates:Latest Updates