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Income Tax - Highlights / Catch Notes

Home Highlights August 2019 Year 2019 This

Levy of penalty u/s 271E - violation of provision of section ...


Penalty u/s 271E for Cash Loan Repayment Violation Not Justified Due to Lack of Evidence.

August 10, 2019

Case Laws     Income Tax     AT

Levy of penalty u/s 271E - violation of provision of section 269T - repayment of loan was made in cash - when there is nothing on record suggesting that the loan amount was repaid in cash by the assessee - imposition of penalty would not be justified

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