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1. Violation of the provisions of Sections 269SS and 269T - scope of the term "loan" and "deposit" - Penalty u/s 271D and 271E - amount received on account of share...

2. 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...

3. Penalties levied u/ss 271D and 271E were challenged. The assessee was found to have violated Sections 269SS and 269T. However, there was no concrete finding that the...

4. Penalty u/s 271D & 271E - default committed in violation of section 269SS & 269T - Reliance on search proceeding documents - Transactions being mere book entries -...

5. Levy of penalty u/s. 271D - treating the share application money as deposit u/s 269SS - once the A.O. has treated the share application money received by the assessee in...

6. Penalty u/s 271D or 271E - Penalty u/s.271D or 271E of the Act is concerned, those are independent proceedings and having nothing to do with assessment proceedings or...

7. Penalty u/s. 271D - assessee has repaid loans/ deposits from various sister concerns through journal entries, i.e., otherwise than account payee cheques/draft - though...

8. Sec. 269SS and 269T - there is bonafide belief to the effect that the receipt of advances against allotment of shares and repayment of share money would not be termed...

9. 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...

10. Penalty imposed u/s 271D and 271E - the availing and re–payment of loan through book entries was prior to 12th June 2012. Therefore non–compliance to the provisions of...

11. Penalty imposed u/s 271D & 271E - default u/s 269SS & 269T - CIT(A) deleted the penalty holding that general entries leading to assignment of debt does not attract...

12. Treatment of Share Application money as loans & Advances(269SS) - Penalty under 271D - Share application monies received by a company, pending allotment of shares, do...

13. Addition on account of share application and share premium money u/s 68 - assessee has received share application and share premium money from eleven investor companies...

14. Share application money cannot be equated with share capital and interest paid on share application money pending its allotment is allowable as revenue expenditure

15. Levy of penalties u/s 271D and 271E for the violation of sections 269SS and 269T, respectively - The Tribunal, after reviewing precedents from the Supreme Court and...