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1 - 10 of 30 (1.60 seconds)Section 18 in The Limitation Act, 1963 [Entire Act]
Section 3 in The Limitation Act, 1963 [Entire Act]
The Code of Civil Procedure, 1908
Section 25 in The Indian Contract Act, 1872 [Entire Act]
Section 19 in The Limitation Act, 1963 [Entire Act]
Section 25 in The Limitation Act, 1963 [Entire Act]
Section 118 in The Negotiable Instruments Act, 1881 [Entire Act]
Asstt. Director Of Inspection ... vs Kum. A.B. Shanthi on 3 May, 2002
10. This Section provides that notwithstanding anything
contained in Section 271D no penalty shall be imposed on
the person or assessee, for failure to comply with Section
269SS, if it is proved, that there was reasonable cause for
such failure to obtain a loan otherwise than though
account payee cheque or demand draft. The Apex Court in
Asst. Director's case supra, having considered the import
of Section 273B observed thus: If there was a genuine and
bonafide transaction and if for any reason the tax payer
could not get a loan or deposit by account payee cheque or
demand draft, for some bonafide reasons, the authority
vested with the power to impose penalty has got
discretionary power.