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Section 269St not applies if assessee not received cash of more than Rs. 2 lakh in a day from one party
Case Law Details
- Case Name
- Balaji Auto Enterprises Mysore Pvt. Ltd. Vs ACIT (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Bangalore
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Balaji Auto Enterprises Mysore Pvt. Ltd. Vs ACIT (ITAT Bangalore)
ITAT observe from the order of the AO that the assessee has received cash more than 2.00/- Lakh from the four parties on different dates. As per the opinion of the AO the assessee has violated the provision of section 269ST, therefore, he imposed the penalty u/s 271DA of the Act. On going through the copy of the ledger, it has been observed that the assessee has not received cash more than Rs. 2.00/- Lakh in a day from one party.
After going through section 269ST, it is clear that the assessee’s case does not ...
