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Income Tax - Highlights / Catch Notes

Home Highlights September 2019 Year 2019 This

Penalty u/s 271D - receiving cash from relatives and family ...

Case Laws     Income Tax

September 25, 2019

Penalty u/s 271D - receiving cash from relatives and family members by the assessee under medical emergency - such transaction cannot be treated as loan or advance and transaction falling under the ambit of section 269SS - No penalty.

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  2. 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

  3. 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...

  4. 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...

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  6. Penalty u/s 271D - loan amount obtained in cash from Directors in emergency - violation of provision of section 269SS - the assessee that on the different dates assessee...

  7. Penalty under Section 271D and under Section 271E - accepting/repayment of cash - The impromptu response of the purportedly uneducated assessee at the time of survey, in...

  8. 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...

  9. This case pertains to the addition made u/s 69A of the Income Tax Act regarding unexplained cash found during a search operation. The assessee produced a cash book to...

  10. Addition u/s 69A - Source of Cash deposit - Assessee contended that same is received in advance against the sale of property - Levy of penalty u/s 271D - The ITAT held...

  11. 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...

  12. 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...

  13. Penalty u/s 271D - amount accepted by the assessee in cash - advance received against sale of land - Section 269SS refers to the loan or deposit received in cash and...

  14. 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...

  15. The ITAT Visakhapatnam dealt with a case involving penalty u/s. 271D for receiving cash in relation to the transfer of immovable property, which falls under section...

 

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