Penalty u/s 271D - Accepting cash loans - contravention of the ...

Income Tax

May 14, 2019

Penalty u/s 271D - Accepting cash loans - contravention of the provisions of section 269SS ad 269T - Penalty u/s 271D is subject to the provisions of section 273B and not automatic - when the assessee provides a reasonable explanation, the penalty is not leviable

View Source

← Previous Next →

Penalty u/s 271D - Accepting cash loans - contravention of the ...

Income Tax

May 14, 2019

You may also like:

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...

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 - loans in question were received by the assessee in cash from her daughter and son-in-law - no penalty leviable

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

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.

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...

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 271E/271D - accepting loans in cash - The cash loans in question therefore cannot be said fall within the mischief of Section 269SS of the Act as near...

Penalty levied u/s 271D - capital contributed by the partner in the partnership firm does not tantamount to loan or deposit within the meaning of section 269SS - No penalty - AT

Loan or deposit - Section 269SS - Penalty u/s 271D -transactions effected through journal entries - no penalty - HC

Quick Updates: