https://www.taxtmi.com/highlights?id=26347 Penalty under section 271D - Though the assessee has made an endavour to project the loan taken as amount received as a trustee by virtue of power of attorney but, in our view, such plea of the assessee is on thin ground. Had it been a case of holding the money of the lady in trust, the assessee would not have shown it as loan in its books of account and financial statement. - AT en-us Fri, 11 Dec 2015 09:59:32 +0530 Fri, 11 Dec 2015 09:59:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=26347 Penalty under section 271D - Though the assessee has made an endavour to project the loan taken as amount received as a trustee by virtue of power of attorney but, in our view, such plea of the assessee is on thin ground. Had it been a case of holding the money of the lady in trust, the assessee would not have shown it as loan in its books of account and financial statement. - AT Highlights Income Tax Fri, 11 Dec 2015 09:59:32 +0530 https://www.taxtmi.com/highlights?id=26347