Directors' Payments to Creditors via Journal Entries Avoid Penalty u/s 271D Due to Reasonable Cause.

Penalty u/s. 271D - Payment made by the Directors to the creditors to save the company from litigation - Violation of Section 269S and 269T - Transaction is reflected in the books of accounts through Journal Entries - Where there is a reasonable cause, no penalty can be levied - AT .....

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