Sponsored

Transfer of loan through journal entry is not violation of sec 269

CA Prarthana Jalan 08 Jun 2014 3,528 Views 0 comment Print Income Tax | Judiciary

Case Law Details

Case Name : ITO Vs Sh. Dinesh Jain (ITAT Delhi)

Related Assessment Year : 2009- 10

Courts : All ITAT ITAT Delhi

Become a Premium member to Download. If you are already a Premium member, Login here to access.

Sponsored

CA Prarthana Jalan

Hon’ble Delhi ITAT in the case of Dinesh Jain has held that Penalty u/s. 271E is leviable if a person repays any loan, otherwise, than in accordance with provisions of section 269T. As per section 269T no person shall repay the loan otherwise, than by an account payee cheque or account payee bank draft drawn in the name of the person who has made the loan. Now in this case admittedly the assessee has transferr

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

Sponsored

Tags:

Kindly Refer to Privacy Policy & Complete Terms of Use and Disclaimer.

Author Bio

Name: CA Prarthana Jalan

Qualification: CA in Practice

Company: N/A

Location: Uttar Pradesh, IN

Member Since: 28 May 2018 | Total Posts: 140

View Full Profile

My Published Posts

Pendency of 5,49,042 Appeals Before CIT(A)/NFAC: Request for Early Disposal Bombay HC Left Adjudication of Section 87A Rebate Eligibility to Tax Authorities CBDT Removes Discrimination in Vivad Se Vishwas Scheme Revised Guidelines for Arrest Under CGST Act, 2017 No GST on Transfer of Leasehold Rights: Gujarat High Court View More Published Posts

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

0 Comments

SHK says:

it is a ITAT case, not of High Court

Reply

June 9, 2014 at 3:51 pm
Ranjana says:

This is ITAT case not Delhi HC, please rectify the authority name in summary.

Reply

June 9, 2014 at 2:16 pm
J.Janarthanan says:

Dear Sir, (CA Prarthana Jalan)

I am a regular reader of Taxguru. Especially read your articles are presented very nice. Thank you very much for taxguru and you for the updates.

I would like to know whether this judgment (i.e. ITO Vs. Sh. Dinesh Jain, ITA No. 3794/Del/2013, Date of order: 16-05- 2014) pronounced by ITAT, Delhi Bench or by Hon’ble Delhi High court.

I understand that the said judgment pronounced by ITAT, Delhi Bench.

Kindly clarify.

J.Janarthanan

Reply

June 9, 2014 at 10:51 am