Penalty u/s 271D stayed as assessee denied having received cash loan and matter was pending in Civil Court In a…
No penalty can be levied if AO failed to record such satisfaction in assessment order. Penalty proceedings would necessarily be…
Section 269SS not apply to cash receipt of sale consideration of immovable property, it deals only with loan or deposit…
Penalty u/s 271D for violation of Section 269SS can not be escaped by establishing genuineness or bona fides of the…
Penalty u/s 271D initiated when assessee was alive but order invalid if passed in the name of assessee after his…
If one proceeding is saved, other has to be quashed – interesting judgment of ITAT on reassessment and penalty proceedings.…
Liability of company paid by Director in cash is cash loan u/s 269SS liable to Penalty u/s 271D of the…
Date of initiation of penalty proceedings in assessment order is the relevant date u/s 275(1)(c) for limitation purpose. ABCAUS Case…
Advance taken in cash against sale not loan or deposit u/s 269SS hence no penalty us/ 271D is leviable on…
No tax audit in one proprietorship firm-ITAT deleted penalty u/s 271B as when no accounts was maintained, assessee was not…