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Income Tax - Highlights / Catch Notes

Home Highlights July 2012 Year 2012 This

Penalty u/s 271D - reasonable cause - contravention of sec. ...


Penalty u/s 271D Deleted: Reasonable Cause Found for Cash Obtained by Discounting Cheques, Overriding Section 269SS Violation.

July 20, 2012

Case Laws     Income Tax     AT

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 penalty is warranted - AT

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