Penalty under Section 271D - violation of Section 269-SS - ...

High Court: Suspicion Alone Insufficient for Penalty u/s 271D; Thorough Investigation Required for Cash Loan Violations.

January 10, 2015

Case Laws Income Tax HC

Penalty under Section 271D - violation of Section 269-SS - surrender of income - Receipt of Loan in cash - There is suspicion but this alone without further verification and investigation cannot justify the finding that the respondent-assessee had taken loan/deposit in cash. - HC

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Penalty under Section 271D - violation of Section 269-SS - ...

High Court: Suspicion Alone Insufficient for Penalty u/s 271D; Thorough Investigation Required for Cash Loan Violations.

January 10, 2015

Case Laws Income Tax HC

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