https://www.taxtmi.com/highlights?id=52453 Penalty u/s 271E - violation of the provision of section 269T - assessee has repaid the loans and advances received from various creditors otherwise than by crossed cheque - sufficient and reasonable cause for repayment of the loan to the directors and shareholders - the assessee has demonstrated that transactions were genuine with relevant documents. It is a mere technical violation and there is no loss to the revenue - No penalty - AT en-us Fri, 20 Mar 2020 14:03:56 +0530 Fri, 20 Mar 2020 14:03:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=52453 Penalty u/s 271E - violation of the provision of section 269T - assessee has repaid the loans and advances received from various creditors otherwise than by crossed cheque - sufficient and reasonable cause for repayment of the loan to the directors and shareholders - the assessee has demonstrated that transactions were genuine with relevant documents. It is a mere technical violation and there is no loss to the revenue - No penalty - AT Highlights Income Tax Fri, 20 Mar 2020 14:03:56 +0530 https://www.taxtmi.com/highlights?id=52453