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No penalty u/s 271D on cash loan taken more than Rs. 20,000 if it is routed through Bank
Case Law Details
- Case Name
- CIT-II, Agra Vs Smt. Dimpal Yadav (Allahabad High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Allahabad High Court
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CA Satish Garg
Brief of the Case
In a landmark judgement of Hon’ble Allahabad High Court in the case of CIT- V. Smt. Dimpal Yadav, it was held that where even through assesee had taken a loan in cash, since loan was routed through bank account of the assessee for the payment to Government for converting land into free hold property, no penalty could be imposed u/s 271D.
Fact of the case:-
a) In this case, Assesee has taken cash loan more than Rs. 20000/- from a political party.
b) Assessee along with her husband acquire lease hold right over a land on the payment of certain sum and same ...
Excellent piece of information, specially to those who wish to take advantage of the contents therein and are in a fix about whom and where and how to contact the Govt. Officials concerned. Keep it up.