Penalty u/s 271E of the Act – Repayment of loan made in cash – ...

Penalty Waived u/s 271E for Cash Loan Repayment Between Father and Son Due to Close Relationship.

April 17, 2014

Case Laws Income Tax AT

Penalty u/s 271E of the Act – Repayment of loan made in cash – the confirmation letter from the father cannot be completely brushed aside, especially when the transaction is between a very close relationship i.e., father and son - penalty waived - AT

View Source

← Previous Next →

Penalty u/s 271E of the Act – Repayment of loan made in cash – ...

Penalty Waived u/s 271E for Cash Loan Repayment Between Father and Son Due to Close Relationship.

April 17, 2014

Case Laws Income Tax AT

You may also like:

Levy of penalty u/ss 271D and 271E was challenged - default u/ss 269SS and 269T - assessee received and repaid cash loans from directors and related concerns - assessee...

Penalty u/s 271E - repayment of the loans in question in cash - default u/s 269SS - reasonable cause - the repayment of advances from regular parties are identifiable...

Penalty u/s. 271E - violation of the provisions of Section 269T - Repayment of monthly instalment in cash to Tata Finance Corporation - as the assessee had not only...

ITAT quashed penalties under sections 271D and 271E for accepting cash loans of Rs. 17,00,000 in violation of section 269SS. Tribunal considered assessee's circumstances...

Penalty u/s 271D and penalty u/s 271E - Assessee for taking loan in cash and repaying the loan in cash - the moneys in question were received and repaid for personal...

Penalty levied u/s. 271D and 271E - The assessee has filed affidavits of the lenders who are agriculturist to substantiate that they have advanced cash loan for the...

Penalty proceedings u/s. 271E - conversion of loan into redeemable convertible bonds and therefore, it was observed that the repayment of loan is other than the modes...

Penalty u/s. 271D - violation of section 269SS - father using the money of his son - the money has been given by the son to the father and that have been used by the...

Penalty u/s. 271D and 271E - numerous cash deposits and repayment was made in cash - assessee has demonstrated the funds were arranged in cash on urgent requirement of...

Penalty u/s 271E - repayment of deposits in cash made by the assessee to her related persons - default u/s 269T - the burden entirely lay upon AO first to establish that...

Penalty u/s 271E - section 269T is applicable only on repayment of any loan or deposit taken by the assessee - at the time of repayment in cash there was no unsecured...

Penalty u/s 271D and 271E - If loan in cash is taken once or twice, in exceptional exigencies, may be a ground for interference, but when the fact remains that a lender...

Penalty u/s 271D & 271E - Contravention of provisions of Section 269SS & 269TT - Accepting and repayment of loans / deposits in Cash from the Managing Director of the...

Levy of penalty u/s 271E - violation of provision of section 269T - repayment of loan was made in cash - when there is nothing on record suggesting that the loan amount...

Penalty u/s 271E/271D - accepting loans in cash - The cash loans in question therefore cannot be said fall within the mischief of Section 269SS of the Act as near...

Quick Updates: