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Income Tax - Highlights / Catch Notes

Home Highlights July 2017 Year 2017 This

Levy of penalty u/s 271D - The reasons given by the assessee ...

Case Laws     Income Tax

July 20, 2017

Levy of penalty u/s 271D - The reasons given by the assessee that there is a business exigency in as much he needs to make the payment for purchase of landed properties, the reasons given by the assessee is not coming within the purview of reasonable cause as defined u/s 273B

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  8. Penalty levied u/s 271D - assessee has availed cash loan in contravention of provision of section 269SS - Assessee has submitted that though the assessee has initially...

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  10. Penalty u/s 271D - reasonable cause - contravention of sec. 269SS - cash was taken by discounting cheques to meet the urgent business needs of the assessee - deletion of...

  11. Penalty levied by the AO u/s. 271AAB r.w.s. 274 - levy penalty of 30% on undisclosed income - the reasons given by the AO to levy 30% penalty on undisclosed income is...

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  13. Levy of penalty u/s 271D - Receipt of deposits in cash in contravention of provisions of section 269SS - The assessee explained before the authorities below that two of...

  14. The ITAT Delhi held that the levy of penalty u/s 271D without valid satisfaction for alleged violation u/s 269SS is not justified. The AO must record satisfaction in the...

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