https://www.taxtmi.com/caselaws?id=326189 The Tribunal upheld the penalty of Rs. 76,000 under Section 271D for contravention of Section 269SS, dismissing the appellant's arguments on limitation of penalty order initiation and validity of demand notice. The Tribunal found the loan transactions with sister concerns did not qualify for exceptions under the Act, differing from a cited judgment. The appeal was dismissed entirely, affirming the penalty imposition and statutory compliance within the time limit. en-us Wed, 02 Mar 2016 00:00:00 +0530 Fri, 08 Apr 2016 12:19:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326189 The Tribunal upheld the penalty of Rs. 76,000 under Section 271D for contravention of Section 269SS, dismissing the appellant's arguments on limitation of penalty order initiation and validity of demand notice. The Tribunal found the loan transactions with sister concerns did not qualify for exceptions under the Act, differing from a cited judgment. The appeal was dismissed entirely, affirming the penalty imposition and statutory compliance within the time limit. Case-Laws Income Tax Wed, 02 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326189