https://www.taxtmi.com/caselaws?id=384314 The ITAT upheld the penalty under section 271D for receiving an unsecured loan in cash, while dismissing the penalty under section 271E due to lack of evidence of loan repayment in cash. The judgments underscore the necessity of proper documentation and evidence in loan transactions to evade penalties under the Income Tax Act, emphasizing the significance of proving the mode of loan repayment to avoid penalties. en-us Wed, 07 Aug 2019 00:00:00 +0530 Fri, 09 Aug 2019 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384314 The ITAT upheld the penalty under section 271D for receiving an unsecured loan in cash, while dismissing the penalty under section 271E due to lack of evidence of loan repayment in cash. The judgments underscore the necessity of proper documentation and evidence in loan transactions to evade penalties under the Income Tax Act, emphasizing the significance of proving the mode of loan repayment to avoid penalties. Case-Laws Income Tax Wed, 07 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384314