Penalty proceedings u/s. 271E - conversion of loan into ...

No Penalty u/s 271E for Loan Conversion to Bonds in Amalgamated Company; Not a Prescribed Repayment.

September 22, 2023

Case Laws Income Tax AT

Penalty proceedings u/s. 271E - conversion of loan into redeemable convertible bonds and therefore, it was observed that the repayment of loan is other than the modes prescribed u/s. 269T - the assessment which already stand completed and loans wherein it has been accepted in their hands prior to the amalgamation, then we do not find any reason or occasion as to why such loans are to be doubted in the hands of the amalgamated company and specifically in the proceedings u/s. 271E. - No penalty - AT

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Penalty proceedings u/s. 271E - conversion of loan into ...

No Penalty u/s 271E for Loan Conversion to Bonds in Amalgamated Company; Not a Prescribed Repayment.

September 22, 2023

Case Laws Income Tax AT

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