section (2) of section 272A , sub-section (1) of section 272AA ] or
[ section 272B or] [sub-section (1)[or sub-section (1A)] of section
272BB ... section (1) of section 272BBB or] clause (b) of sub-
section (1) or clause (b) or clause (c) of sub-section (1)of section
C.K. Antony vs Mathai M. Paikeday on 20 December, 2003
IN THE HIGH COURT
addition under section 68 is not tenable, then penalty under section 271D is leviable because there is violation of section 269SS if cash credit ... held to be income of assessee under section 68 then section 269SS will not operate and in turn, no penalty leviable under section 271D
mentioned about ignorance of assessee about the provisions of Section 271D read with Section 269SS ; but this mentioning is only as a passing reference ... section was subsequently omitted and a new section 271D was enacted. The penalty of imprisonment was deleted in the new section. The new section 271D
such provision. But the ultimate aim of the Section is to prevent evasion of tax. Section 269SS to prevent evasion of tax is ancillary ... contravention is made action could be taken under Section 271D . The provisions of Sections 269SS and 271D are reasonable restrictions in accordance with the power
penalty imposed by the AO u/s 271D , by
the ITAT?
f) Whether violation of provisions of Section 269SS to a
small extent ranging from ... Section 273B . It is,
therefore, not correct to state that the Tribunal based its decision on the only
ground that Section 269SS cannot be applied
respect of Section 276DD which is the penal section for violation of the provision of Section 269SS of the Income Tax Act, 1961. Section 276DD ... Section 276DD is the penal section for the violation of the provision under Section 269SS of the Income Tax Act (herein after referred
section (1) of section 271 , section 271A , section 271AA ,
section 271B , section 271BA , section 271BB , section 271C , section
271D , section 271E , section 271F , section 271G ... section (1) or sub-section (2) of section 272A , sub-section (1)
of section 272AA or section 272B or sub-section (1) of section 272BB
Bhatinda, for imposition of penalty under section 271D of the Act. Accordingly, notices under section 274 read with section 271D of the Act for the assessment ... section 271D or section 276DD unconstitutional on the ground that the provisions are draconian or expropriatory.
The object of introducing section 269SS is to ensure
deleting the penalty under section 271D . The assessee
exporter in that case took the cash loan in contravention of section 269SS
because ... headings
preferred to sections or set of sections in some modern statutes are
regarded as 'preambles' to those sections. This view was approved
