Assessee's belief in share allotment exempts them from Section 269SS violation; Section 271D penalty deleted. https://www.taxtmi.com/highlights?id=20975 Deletion of penalty u/s 271D – Violation of provisions of Section 269SS or not –assessee was under the bona fide impression that the money received was only towards allotment of shares and it is not a loan or deposit - no penalty - HC en-us Thu, 11 Dec 2014 21:28:11 +0530 Thu, 11 Dec 2014 21:28:11 +0530 TaxTMI RSS Generator Assessee's belief in share allotment exempts them from Section 269SS violation; Section 271D penalty deleted. https://www.taxtmi.com/highlights?id=20975 Deletion of penalty u/s 271D – Violation of provisions of Section 269SS or not –assessee was under the bona fide impression that the money received was only towards allotment of shares and it is not a loan or deposit - no penalty - HC Highlights Income Tax Thu, 11 Dec 2014 21:28:11 +0530 https://www.taxtmi.com/highlights?id=20975