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Income Tax - Highlights / Catch Notes

Home Highlights February 2012 Year 2012 This

Penalty - Provision of section 269SS - Cash loans - The amount ...

Case Laws     Income Tax

February 7, 2012

Penalty - Provision of section 269SS - Cash loans - The amount taken for a short period. - It has to be considered as temporary advance - If it is a temporary advance, such temporary advances are outside the purview of section 269SS of the Act..... - AT

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  7. Addition u/s 68 - Cash loan and interest income earned on such cash loan unexplained - It is not understandable as how the cash loan are unexplained, when the AO has not...

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  9. Penalty u/s 271D & 271E - allegation of cash loan having been taken/repaid - The ITAT underscored the principle that penalties under Sections 271D and 271E for...

  10. Penalty u/s 271 D - default u/s 269SS - Assessee had accepted the loans in cash - as pe assessee both the entities from whom the cash loan was taken were partnership...

  11. 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...

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