amendments in section
271D and section 271E to provide penalty for failure to comply with
the amended provisions of section 269SS and 269T , respectively.
These ... amendments in section 271D and section
271E , to provide penalty for failure to comply with the amended
provisions of section 269SS and 269T , respectively, have
amendments in section
271D and section 271E to provide penalty for failure to comply with
the amended provisions of section 269SS and 269T , respectively.
These ... amendments in section 271D and section 271E ,
to provide penalty for failure to comply with the amended provisions
of section 269SS and 269T , respectively, have
Sec.271E of the
Act, which provides that If a person repays any loan or deposit or specified advance
referred to in section 269T otherwise ... Section 275(1)(a) and Clause
(b) of Sub-section (1) of Section 275 is significantly missing from Clause (c)
of Section
loan or deposit and therefore, it is outside the purview of
section 269T of the Act.
2. Similarly for the purposes ... 2016 proposing to levy of penalty under Section 271E of
the Act for alleged violation of Section 269T of the Act. In response
cash contravening the provisions of Section
269T of the Act. The assessee has filed written submissions on 5.3.2018 and
explained the reasons for repayment ... with any other Banks and the
provisions of Section 269T of the Act shall not be applicable. The Assessing
Officer was not satisfied with
loan so taken is in excess of Rs.20,000/-. Similarly, sec. 269T of the
Act provides that no person shall repay any loan otherwise ... relatives for personal
purposes will not attract the provisions of sec.269SS and Sec.269T of the
Act. The ld.Counsel for the assessee placed
section 273B provides that no penalty shall be imposable
on the person or the assessee for any violation referred to under
section 269T ... benefit of section 273B of the Act is given in cases as the present
one, the very purpose of enacting section 269T
Jice Academy For Excellence Private ... vs Income Tax Officer, Nfac, Delhi on 19 September, 2022
loan or deposits, the
provisions of Section 269SS got attracted and penalty was leviable under
Section 271D if a reasonable cause was not provided ... receivable in books of account was in contravention of provisions
of section 269T , yet in that case penalty was not leviable for
reason that transaction
deposit for the purpose of deciding the
applicability of section 269T . However, the parity of reasoning can be
derived from said judgment for Section also ... 2023
Valdel Investments Private Limited, Bangalore
Page 8 of 16
limit. Section 269T prohibits the repayment of deposit in cash exceeding
the prescribed limit
