Penalty for Cash Loan from Mother Deleted Citing Madras HC Decision; Transaction Deemed Bona Fide u/s 269SS.

Levy of penalty u/s 271D - cash loan received from mother in violation of provision of Section 269SS - bona fide reason - this advance or loan in cash is between blood relations i.e. mother and son - Following the decision of Madras High Court, penalty deleted - AT .....

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