Levy of penalty u/s 271D - loan in cash was taken from near ...

Case Laws Income Tax

January 9, 2019

Levy of penalty u/s 271D - loan in cash was taken from near relatives - the transaction in the instant case is between the assessee and her maternal uncle and aunt and there is nothing on record to show that the transaction lacks bona fides - no penalty.

View Source

← Previous Next →

Levy of penalty u/s 271D - loan in cash was taken from near ...

Case Laws Income Tax

January 9, 2019

You may also like:

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...

Levying penalty u/s 271D - Accepting loan / deposits in cash from relatives in violation of section 269SS - the assessee has taken loans from relatives to finance her...

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...

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...

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

Levy of penalty u/s 271D - transaction between husband and wife - transaction of loan between husband and wife does not attract the provisions of section 269SS - Penalty...

Penalty u/s 271D and penalty u/s. 271E - Default u/s 269SS and u/s 269T - Loan/deposits taken/paid by the assessee in cash is more than Rs.20,000/- - after evaluating...

The case pertains to penalty proceedings u/s 271D for violating Section 269SS and Section 271E of the Income Tax Act. The assessee received Rs. 18 lakh from a trustee...

Levy of penalty u/s 271D - Cash loans from close relatives cannot be said to fall within the mischief of section 269SS of the Act, as near/close relatives cannot be said...

Penalty u/s 271D - accepting loan in cash - reasonable cause - the AO has neither doubted the impugned transaction nor any addition made in this behalf even under...

Penalty u/s 271D - loan accepted in cash - The cash loans in question cannot be said fall within the mischief of Section 269SS as near relatives cannot be said to be...

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...

Penalty u/s 271D - default u/s 269SS - assessee has taken loan from his father and paternal aunt, who are family members and such transactions would not attract penalty u/s 271D

Penalty levied u/s. 271D r.w.s. 273B - reasonable cause for the assessee to accept loan over ₹ 20,000/- in cash - levy of penalty confirmed.

Quick Updates: