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Section 271D Penalty applicable on Loan from Sister Concerns in Cash
Case Law Details
- Case Name
- CIT Vs. Sunil Sugar Co. (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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In this appeal preferred by the Revenue, the dispute is regarding penalty under section 271-D of the Income Tax Act, 1961 (hereinafter referred as the “Act”) imposed for contravening the provisions of section 269-SS of the Act.
The appeal was admitted on the following substantial questions of law :–
“Whether the Income Tax Appellate Tribunal was justified in law in deleting the penalty under section 273-D of the Income Tax Act, 1961 amounting to Rs. 46,00,000 which was levied on account of violation of section 269-SS of the Income Tax Act, 1961 on the technical gro...
