https://www.taxtmi.com/highlights?id=50029 Levy of penalty u/s. 271D - treating the share application money as deposit u/s 269SS - once the A.O. has treated the share application money received by the assessee in cash, as undisclosed income of the assessee, he could not have proceeded on the basis that it was deposit; and that there was no question of levy of penalty u/s. 271D en-us Mon, 04 Nov 2019 07:04:44 +0530 Mon, 04 Nov 2019 07:04:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=50029 Levy of penalty u/s. 271D - treating the share application money as deposit u/s 269SS - once the A.O. has treated the share application money received by the assessee in cash, as undisclosed income of the assessee, he could not have proceeded on the basis that it was deposit; and that there was no question of levy of penalty u/s. 271D Highlights Income Tax Mon, 04 Nov 2019 07:04:44 +0530 https://www.taxtmi.com/highlights?id=50029