2011 (7) TMI 517

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..... e from agricultural operations and that loan was advanced to the assessee out of the agricultural income received by them - The Tribunal considered that failure to accept such loans in violation of section 269SS of the Act constituted reasonable cause, therefore it was not a fit case for imposition of penalty under section 271D - appeal dismissed. - 456 of 2011 - - - Dated:- 27-7-2011 - J.P .....

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