Cash loan from wife due to business expediency. Penalty u/s 271D deleted as the business was carried on in the…
Penalty u/s 271D for taking cash loan from father and paternal aunt deleted following various decisions of High Courts and…
Penalty u/s 271D deleted as cash loan was repaid by cheque. Reasons accepted in quantum proceedings should have been accepted…
Penalty u/s 271D-Cash received to get a good bank balance certificate for visa of the daughter constituted a reasonable cause…
Penalty u/s 271D deleted for cash loan from father mother and brothers as loan was from close family relations and…
Penalty u/s 271D unjustified when bank refused loan and cash was obtained for meeting urgent business expenses as it was…
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…
Cash deposited in bank by friend for making DD for participating in tender was not loan or deposits u/s 269SS…
Penalty proceedings u/s 271D without recording satisfaction in the assessment order held to be illegal following Supreme Court judgment ABCAUS…