Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Penalty u/s 271D - cash loans from farmer friends - assessee relied on mere oral assertions of urgent requirement of funds without producing any material to establish such assertion - the details of purchase orders required to be executed within time and most significantly did not co-relate the purchases made from such cash loans - no reasonable explanation for failure of Section 269SS - penalty upheld
Penalty u/s 271D - cash loans from farmer friends - assessee relied on mere oral assertions of urgent requirement of funds without producing any material to establish such assertion - the details of purchase orders required to be executed within time and most significantly did not co-relate the purchases made from such cash loans - no reasonable explanation for failure of Section 269SS - penalty upheld
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