https://www.taxtmi.com/highlights?id=47368 Penalty u/s 271D - assessee is a small trader - household expenses incurred and paid from firm have been entered in cash book debited to assessee's a/c and crediting the A/c of firm M/s Rambilas Shiv Kumar, hence no 'money' passed from firm to the assessee - the transaction between the assessee and firm was current account in nature and was not a loan or deposit and hence there is no violation of section 269SS - no penalty en-us Sat, 22 Jun 2019 09:47:28 +0530 Sat, 22 Jun 2019 09:47:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=47368 Penalty u/s 271D - assessee is a small trader - household expenses incurred and paid from firm have been entered in cash book debited to assessee's a/c and crediting the A/c of firm M/s Rambilas Shiv Kumar, hence no 'money' passed from firm to the assessee - the transaction between the assessee and firm was current account in nature and was not a loan or deposit and hence there is no violation of section 269SS - no penalty Highlights Income Tax Sat, 22 Jun 2019 09:47:28 +0530 https://www.taxtmi.com/highlights?id=47368