Penalty u/s 27ID - cash loans exceeding ₹ 20,000 from ...

Income Tax

May 14, 2020

Penalty u/s 27ID - cash loans exceeding ₹ 20,000 from agriculturists - since the creditor had given the loan from their agricultural income and the borrower was also engaged in agricultural activity, the provisions of section 269SS are not attracted, has not been verified by the AO as well as by the CIT(A) from the perusal of the evidences, matter remanded back.

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Penalty u/s 27ID - cash loans exceeding ₹ 20,000 from ...

Income Tax

May 14, 2020

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