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Section 271E

Latest Articles


Penalties and Prosecutions Under Income tax Act, 1961

Income Tax : Discover penalties and prosecutions under the Income Tax Act, 1961, including default conditions, quantum of penalties, and potent...

September 6, 2024 496509 Views 4 comments Print

ITAT Upholds Penalty for Loan Repayment in Cash Despite Poor Cheque Clearance History

Income Tax : ITAT upholds penalty against taxpayer for cash repayment of loans, contravening Section 269T of Income-tax Act. Explore implicatio...

March 14, 2024 918 Views 0 comment Print

Legitimacy of repayments through Journal Entries – Whether liable to penalty?

Income Tax : Explore the impact of Income Tax Sections 269SS, 269ST, 269SU, and 269T on transactions via Journal/Book Entries. Learn about legi...

February 27, 2024 7083 Views 0 comment Print

Income Tax: Cash in hand, with limits to understand- Part 1

Income Tax : Explore provisions and penalties in the Income Tax Act 1961 regarding cash transactions. Understand limits for loans, deposits, an...

January 2, 2024 10356 Views 1 comment Print

Implication of Cash transactions under Income Tax Act, 1961

Income Tax : Through Income tax Act, 1961 cash transaction has been limited, restricted in certain cases. In this article you will get insights...

September 1, 2023 8031 Views 0 comment Print


Latest Judiciary


Penalty u/s. 271D set aside as claim made in an open and bonafide manner: ITAT Bangalore

Income Tax : ITAT Bangalore held that penalty under section 271D of the Income Tax Act not leviable in terms of section 273B of the Income Tax ...

November 7, 2024 153 Views 0 comment Print

Section 271E penalty Initiation without recording reasons unsustainable: Madras HC

Income Tax : Madras High Court held that the Assessment Officer has not recorded the reasons for arriving at a subjective satisfaction to initi...

September 21, 2024 336 Views 0 comment Print

Penalty not leviable as violation of section 269SS and 269T not justified without clear finding: ITAT Ahmedabad

Income Tax : ITAT Ahmedabad held that imposition of penalty u/s. 269D and 269E of the Income Tax Act without clear finding along with authentic...

August 30, 2024 438 Views 0 comment Print

Consolidated Imposition of Sections 271D & 271E Penalty Unjustified: ITAT Cochin

Income Tax : ITAT Cochin held that imposition of penalty u/s. 271D and 271E of the Income Tax Act  in consolidated manner is unjustified as AO...

August 26, 2024 321 Views 0 comment Print

Penalty u/s. 271D unwarranted as reasonable cause shown for cash receipt on sale of property: ITAT Bangalore

Income Tax : ITAT Bangalore held that imposition of penalty under section 271D of the Income Tax Act unwarranted as reasonable cause shown for ...

August 15, 2024 861 Views 0 comment Print


Latest Notifications


Limitation for penalty proceedings U/s. 271D & 271E

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...

April 26, 2016 7369 Views 0 comment Print

Limitation commencement for penalty proceedings U/s. 271D &271E

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...

April 26, 2016 2659 Views 0 comment Print


ITAT Delhi explains limitation for passing of penalty order

June 13, 2024 870 Views 0 comment Print

Detailed analysis of ITO vs Turner General Entertainment Networks India Pvt. Ltd. case before ITAT Delhi. Penalty order deemed invalid due to limitation.

Section 269SS & 269T Not Applicable to Share Application Money; No Penalty Under Section 271D or 271E

May 24, 2024 2118 Views 0 comment Print

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.

AO Misconstrued Directions by PCIT, ITAT Kolkata Directs Re-adjudication

May 12, 2024 561 Views 0 comment Print

Rajendra Kumar Mishra vs. ACIT case: ITAT Kolkata directs re-evaluation as AO misinterpreted PCIT’s orders on loan payments.

ITAT Upholds Penalty for Loan Repayment in Cash Despite Poor Cheque Clearance History

March 14, 2024 918 Views 0 comment Print

ITAT upholds penalty against taxpayer for cash repayment of loans, contravening Section 269T of Income-tax Act. Explore implications and alternatives.

Personal Expenses Treated as Income, cannot be treated as Loan for Section 269SS

March 9, 2024 888 Views 0 comment Print

Explore the case of DCIT Vs Platinum Towers Pvt. Ltd. (ITAT Delhi) regarding personal expenses treated as income, penalties under Section 269SS, and conclusions on the matter.

Legitimacy of repayments through Journal Entries – Whether liable to penalty?

February 27, 2024 7083 Views 0 comment Print

Explore the impact of Income Tax Sections 269SS, 269ST, 269SU, and 269T on transactions via Journal/Book Entries. Learn about legislative framework, judicial interpretations, and penalties.

Section 271D & 271E Penalty Requires Pending Proceedings for Relevant A.Y.

January 30, 2024 1443 Views 0 comment Print

ITAT Delhi cancels penalty imposed under section 271E of the Income Tax Act on Pawan Kumar for loan repayment via bank transfer, challenging jurisdiction and citing legal grounds. Full text of the order included.

Time Limit for Section 271D Penalty Starts at AO Initiation, Not JCIT Notice Date: ITAT Delhi

January 30, 2024 906 Views 0 comment Print

Sunil Dandriyal vs JCIT case underscores significance of understanding the correct starting point for calculating the time limit for penalty proceedings under Section 271D of the Income Tax Act. The decision reinforces the principle that the initiation of penalty proceedings by the AO, rather than the issuance of a show-cause notice by the JCIT, triggers the commencement of the statutory time limit.

Section 274 Income Tax Notice Must Precede Limitation Period: Delhi HC

January 12, 2024 3237 Views 0 comment Print

Delhi High Court ruling on PCIT vs. Thapar Homes Ltd. emphasizes issuing notices under Section 274 before the Income Tax Act’s limitation period. Full judgment analysis.

Cash receipt at the time of registration of sale deeds of plots doesn’t violate section 269SS

January 5, 2024 5832 Views 0 comment Print

ITAT Chennai held that there is no violation of provisions of section 269SS when all sale deeds were registered and cash payment was made at one go before the sub-registrar at the time of registration of sale deeds of plots. Hence, penalty u/s 271D not leviable.

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