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Income Tax - Highlights / Catch Notes

Home Highlights October 2018 Year 2018 This

Levy of penalty u/s 271E r.w.s. 269T - reasonable cause - the ...


Penalty u/s 271E Scrutinized: Loan Settled Using Journal Entries Deemed Reasonable Cause by Assessee.

October 1, 2018

Case Laws     Income Tax     AT

Levy of penalty u/s 271E r.w.s. 269T - reasonable cause - the assessee’s decision in favour of squiring up of the loans account through passing of journal entries, shall constitute a reasonable cause on the facts of the present case.

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