Sponsored
    Follow Us:

Case Law Details

Case Name : Rudra Buildwell Projects P. Ltd. Vs DCIT (ITAT Delhi)
Related Assessment Year : 2011-12
Become a Premium member to Download. If you are already a Premium member, Login here to access.
Sponsored

Rudra Buildwell Projects P. Ltd. Vs DCIT (ITAT Delhi)

The Income Tax Appellate Tribunal (ITAT) Delhi has ruled in favor of Rudra Buildwell Projects Pvt. Ltd., deleting the penalty of ₹3,50,000 levied under Section 271D of the Income Tax Act, 1961. The penalty was originally imposed for alleged violation of Section 269SS, which prohibits acceptance of cash loans above a specified limit. However, the ITAT found that since the assessment under Section 153C was quashed, the penalty could not survive.

The penalty was imposed by the Assessing Officer (AO) on the grounds that the

Please become a Premium member. If you are already a Premium member, login here to access the full content.

Sponsored

Author Bio

A Blogger by Passion and a Chartered Accountant by Profession. View Full Profile

My Published Posts

ITAT Pune Allows Foreign Tax Credit despite Late Filing of Form 67 Gujarat HC Allows Condonation of delay in filing Form 10B for Charitable Trust Delhi HC Upholds FEMA Penalty on OCI Cardholder ITAT Upholds PCIT Order: LIC Annuity as Taxable Salary GST Appeal Limitation: Three months follows British calendar, not 90 days – Kerala HC View More Published Posts

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Ads Free tax News and Updates
Sponsored
Search Post by Date
March 2025
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
31