Income Tax : Learn about Section 269SS and penalties for cash transactions in property transfers. Case analysis, judicial pronouncement, and ex...
Income Tax : Explore provisions and penalties in the Income Tax Act 1961 regarding cash transactions. Understand limits for loans, deposits, an...
Income Tax : Discover the legal constraints around cash transactions under India's Income Tax Act. Learn about the various sections that impose...
Income Tax : Through Income tax Act, 1961 cash transaction has been limited, restricted in certain cases. In this article you will get insights...
Income Tax : Explore the implications of taxation under section 115BBE, including misuse of sections 68 to 69D, consequences of high tax rates,...
Income Tax : Read the full text of the ITAT Bangalore order in Laxmilal Badolla Vs NFAC. Penalty under Sec 271D cancelled due to reasonable cau...
Income Tax : Penalty u/s. 271D and 271E of the Income Tax Act cannot be imposed if assessment proceedings are quashed. Detailed analysis of Rav...
Income Tax : Section 54F amendment restricting exemption to one residential house was prospective, applying only from April 1, 2015 and Violat...
Income Tax : Calcutta High Court held that share application money or its repayment does not fall under Section 269SS & 269T, as the same are n...
Income Tax : Rajendra Kumar Mishra vs. ACIT case: ITAT Kolkata directs re-evaluation as AO misinterpreted PCIT's orders on loan payments....
Income Tax : It is a settled position that period of limitation of penalty proceedings under section 271D and 271E of the Act is governed by th...
Income Tax : It has been brought to notice of CBDT that there are conflicting interpretations of various High Courts on the issue whether the l...
Read the full text of the ITAT Bangalore order in Laxmilal Badolla Vs NFAC. Penalty under Sec 271D cancelled due to reasonable cause, detailed analysis and conclusion included.
Penalty u/s. 271D and 271E of the Income Tax Act cannot be imposed if assessment proceedings are quashed. Detailed analysis of Ravi Nirman Nigam Ltd Vs ACIT (ITAT Mumbai) and its implications.
Section 54F amendment restricting exemption to one residential house was prospective, applying only from April 1, 2015 and Violation of section 269SS of the IT Act, if any, would call for a separate penalty under section 271D, not an addition under section 68.
Calcutta High Court held that share application money or its repayment does not fall under Section 269SS & 269T, as the same are not loans or deposits, and do not attract penalties under Sections 271D and 271E of Income Tax Act.
Rajendra Kumar Mishra vs. ACIT case: ITAT Kolkata directs re-evaluation as AO misinterpreted PCIT’s orders on loan payments.
Section 271D penalty proceeding cannot be initiated if AO fail to record his satisfaction before initiating penalty penalty proceeding in respect of violation of provisions of section 269SS of Income Tax Act, 1961.
In the case of SVT Wholesale Pvt. Ltd. Vs JCIT, the ITAT Bangalore evaluates the penalty imposed under Section 271D for violating Section 269SS of the Income Tax Act, 1961. Learn about the legal arguments, precedents, and the tribunal’s decision.
Chennai ITAT ruled that receiving a huge sale consideration in cash violates Sec 269SS, warranting penalty under Sec 271D. Case analysis of Nammalvar Lingusamy Vs ACIT.
In Mani Sundaram Vs ITO (ITAT Chennai), cash loans from relatives, later treated as gifts, didn’t incur penalty under section 271D of the Income Tax Act.
Explore the case of K.S. Chawla & Sons (HUF) Vs JCIT, where ITAT Delhi delves into penalty proceedings under section 271D of the Income-tax Act, 1961, with detailed analysis & conclusions.
