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S. 269SS not applies to cash loan taken by Partner from firm
Case Law Details
- Case Name
- The Commissioner of Income Tax Vs V. Sivakumar (Madras High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Madras High Court
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HIGH COURT OF MADRAS
Commissioner of Income-tax
versus
V. Sivakumar
Tax Case (Appeal) No. 279 of 2010
Date of Pronouncement – 11.02.2013
JUDGMENT
Mrs. R. Banumathi, J.
The Revenue has preferred this appeal on the following substantial question of law:-
“Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in law in deleting the levy of penalty by the Assessing Officer under Section 271D of the Income Tax Act, 1961, even though the advance has been accounted as loan and interest debited?”
2. The assessee was a partner in four ...
