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Penalty u/s. 271D and u/s. 271E - taking and paying loan in Cash - the innocence pleaded on account of ignorance of law of Directors who are claimed to be non-resident is insignificant. There is no question of any benefit to the assessee company on the basis of claim of bona fides of the Directors. The provisions of Section 269SS and 269T of the Act imposed statutory liability and cannot be said to held to be mere technical violation in case of companies. - Levy of penalty confirmed - AT