Tribunal Waives Penalty for Cash Loan Repayments u/s 271E Due to Reasonable Explanation of Circumstances by Assessee.

Tribunal Waives Penalty for Cash Loan Repayments u/s 271E Due to Reasonable Explanation of Circumstances by Assessee. https://www.taxtmi.com/highlights?id=52426 Penalty u/s 271E - repayment of the loans in question in cash - default u/s 269SS - reasonable cause - the repayment of advances from regular parties are identifiable and the assessee has explained the circumstances in which it was constrained to make the repayment of the loans in question in cash - No penalty - AT en-us Thu, 19 Mar 2020 11:11:53 +0530 Thu, 19 Mar 2020 11:11:53 +0530 TaxTMI RSS Generator Tribunal Waives Penalty for Cash Loan Repayments u/s 271E Due to Reasonable Explanation of Circumstances by Assessee. https://www.taxtmi.com/highlights?id=52426 Penalty u/s 271E - repayment of the loans in question in cash - default u/s 269SS - reasonable cause - the repayment of advances from regular parties are identifiable and the assessee has explained the circumstances in which it was constrained to make the repayment of the loans in question in cash - No penalty - AT Highlights Income Tax Thu, 19 Mar 2020 11:11:53 +0530 https://www.taxtmi.com/highlights?id=52426