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

Penalty made u/s 271D - loan transaction between husband and ...


Penalty Imposed for Loan Between Spouses Overturned: Section 269SS Exemption for Husband-Wife Transactions Ignored by Officer.

November 29, 2018

Case Laws     Income Tax     AT

Penalty made u/s 271D - loan transaction between husband and wife - while levying the penalty u/s. 271D AO did not appreciate the fact that the provisions of section 269SS are not applicable on the loan transaction between husband and wife.

View Source

 


 

You may also like:

  1. Levy of penalty u/s 271D - transaction between husband and wife - transaction of loan between husband and wife does not attract the provisions of section 269SS - Penalty...

  2. Addition on account of undisclosed income - Addition u/s 68 - Merely because, husband did not inform the death of her wife to the bankers, the entire transaction of...

  3. SC upheld arbitral tribunal's finding of joint and several liability between spouses for debit balance in wife's trading account. The husband's conduct and marital...

  4. Recovery of loan amount form appellant from the spouse of deceased - whether the loan was duly insured - The loan was secured from the date on which the insurance...

  5. Levy of Penalty u/s 112 - Scope of the show cause notice - The CESTAT noted that, no show cause notice has been issued proposing the demand of differential duty or the...

  6. Levying penalty u/s 271D - Accepting loan / deposits in cash from relatives in violation of section 269SS - the assessee has taken loans from relatives to finance her...

  7. Addition of unsecured loan as a gift - gift from unrelated persons treated as assessee’s income u/s.56(vi) - simply because husband has treated his loan as a gift to his...

  8. Indirect contribution of wife in the purchase of the property - Joint properties purchased by husband and wife [housewife] - legal owner - the 1st defendant/wife has...

  9. Clubbing of Income - Addition of Rental Income earned by the Spouse of the Assessee, in the hands of the Assessee, U/s 64 - The ld. CIT(A)’s contention that the husband...

  10. Disallowance of Foreign Travel Expenses - since it is customary in the European countries for the wives to accompany their husbands, the travelling of the wives along...

  11. Levy of penalties u/ss 122 and 129 of CGST/SGST Acts - expiry of e-way bill - mens rea in penalty imposition. Technically, violation of law by petitioner in transporting...

  12. Imposition of penalty under Section 78 - Merely because penalty under Section 78 has been imposed for the earlier period, no penalty can be imposed for any subsequent...

  13. Levy of penalty - Generalia specialibus non derogant - levy of special penalty over general penalty - the Commissioner perfectly justified in imposing penalty under...

  14. Levy of penalty u/s 112 and 117 of CA on CHA and G card holder - mis-classification and mis-declaration of goods - The negligence of both the appellants herein is...

  15. Penalty proceedings u/s 271D - violation of provisions of section 269SS - receipt of loan in cash - the assessee has taken a loan from his wife due to business...

 

Quick Updates:Latest Updates