No Penalty for Loan Received from Spouse u/s 271D for Business; Genuineness Unquestioned by Officer.

Penalty proceedings u/s 271D - violation of provisions of section 269SS - receipt of loan in cash - the assessee has taken a loan from his wife due to business expediency and the AO has not doubted the genuineness and the sources of the loan - no penalty. .....

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