https://www.taxtmi.com/caselaws?id=377849 The High Court held that the appellant failed to establish a valid explanation or reasonable cause for accepting cash loans, as mandated by Section 273B. Merely repaying the loans via cheques and absence of tax evasion were deemed insufficient to justify accepting the loans in cash. The appeal was dismissed, ruling in favor of the revenue authorities. en-us Fri, 08 Mar 2019 00:00:00 +0530 Fri, 22 Nov 2019 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377849 The High Court held that the appellant failed to establish a valid explanation or reasonable cause for accepting cash loans, as mandated by Section 273B. Merely repaying the loans via cheques and absence of tax evasion were deemed insufficient to justify accepting the loans in cash. The appeal was dismissed, ruling in favor of the revenue authorities. Case-Laws Income Tax Fri, 08 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377849