Penalty u/s 271E and 271D - cash deposits and repayment of ...
Income Tax
May 2, 2023
Penalty u/s 271E and 271D - cash deposits and repayment of deposits - assessee is a co-operative society involved in the activity of granting thrift and credit facilities to its members who are the taxi operators - none of the deposits or repayments have been doubted or found to be ingenuine - assessee has discharged the onus which lay upon it to establish the existence of reasonable cause for violation of the provision of section 269SS and 269T - No penalty - AT
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