Penalty u/s 271D was absurd when assessee himself was karta of HUF from where he obtained cash loan-ITAT deleted penalty…
No penalty u/s 271D can be levied when cash loans were treated as undisclosed income of the assessee u/s 68…
Acceptance of loans by passing journal entries in books of accounts not in violation of section 269SS hence no penalty u/s 271D imposable – SC dismisses…
No penalty u/s 271D for cash loans taken to meet financial liabilities of a closed business as it constituted a…
Cash loan from father to son for financial support not covered u/s 269SS. Repayment also not covered u/s 269T-Tribunal deletes…