Tag: Sections 271E
No penalty u/s 271E where persons are properly identified and transactions are genuine as there can be no attempt to evade tax – ITAT ABCAUS Case Law Citation:ABCAUS 3318 (2020) (06) ITAT Important case law relied upon by the parties:Industrial Enterprises vs. DCIT 73 ITD 252ADIT vs. Kumari …
Penalty u/s 271E deleted in the absence of proof /receipt acknowledging the repayment of loan in cash by the assessee. ABCAUS Case Law Citation:ABCAUS 3139 (2019) (09) ITAT In the instant case, the assessee had filed appeal against the order of the CIT(A) whereby he had confirmed levy …
Circular No. 10/2016 F.No.279/Misc./M-140/2015-ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** New Delhi, 26th April , 2016 Subject:- Limitation for penalty proceedings under sections 271D and 271E of the Income tax Act, 1961 – reg. The issue whether the …
Circular No. 09/DV/2016 (Departmental View) F.No.279/Misc./M-116/2012-IT J Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** New Delhi , 26th April , 2016 Subject:- Commencement of limitation for penalty proceedings under sections 271D and 271E of the Income tax Act, 1961 – …
