https://www.taxtmi.com/article/detailed?id=8301 Persistent acceptance and repayment of loans in cash beyond statutory limits, unsupported by any business exigency or reasonable cause and often unrecorded in books, justified imposition of penalties; the High Court affirmed that deliberate non compliance cannot excuse penalty except in exceptional cases, and that penalty determinations are fact specific so co ordinate bench precedents do not bind when facts differ. en-us Thu, 27 Dec 2018 09:38:12 +0530 Thu, 27 Dec 2018 09:38:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8301 Persistent acceptance and repayment of loans in cash beyond statutory limits, unsupported by any business exigency or reasonable cause and often unrecorded in books, justified imposition of penalties; the High Court affirmed that deliberate non compliance cannot excuse penalty except in exceptional cases, and that penalty determinations are fact specific so co ordinate bench precedents do not bind when facts differ. Articles Income Tax Thu, 27 Dec 2018 09:38:12 +0530 https://www.taxtmi.com/article/detailed?id=8301