Penalty u/s 271D - violation of section 269SS - assessee had taken the cash loans from the close...

Penalty u/s 271D - violation of section 269SS - assessee had taken the cash loans from the close relatives i.e. sons-in-law whose spouses are partners and amounts taken as capital contribution but due to inadvertent mistake of the accountant the same was recorded as loans - all of them are assessed to income tax and submitted the confirmations - these aspect neither examined by the JCIT nor by CIT(A) by making cross verification - No penalty .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X