Applicability of penalty U/s. section 269T of IT Act, 1961, when payment was made in cash but not exceeded Rs.20,000/- on a single day

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14 On perusal of the aforesaid account, it is seen that the assessee had to pay sum of Rs. 2,00,000/- to M/s. Ram Kumar Krishan Kumar as on 01.04.2002. Thus, the total amount payable by the assesse

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