Penalty u/s 271D - contravention of Section 269SS - cash loan ...

Income Tax

April 8, 2020

Penalty u/s 271D - contravention of Section 269SS - cash loan taken by the assessee - There existed reasonable cause for the assessee for accepting cash loans from his own brother-in-law and since there is nothing to suggest that the transaction is a commercial transaction and is not genuine, penalty liable to be deleted - AT

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Penalty u/s 271D - contravention of Section 269SS - cash loan ...

Income Tax

April 8, 2020

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