https://www.taxtmi.com/highlights?id=52844 Penalty u/s 271D - contravention of Section 269SS - cash loan taken by the assessee - There existed reasonable cause for the assessee for accepting cash loans from his own brother-in-law and since there is nothing to suggest that the transaction is a commercial transaction and is not genuine, penalty liable to be deleted - AT en-us Wed, 08 Apr 2020 18:04:32 +0530 Wed, 08 Apr 2020 18:04:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=52844 Penalty u/s 271D - contravention of Section 269SS - cash loan taken by the assessee - There existed reasonable cause for the assessee for accepting cash loans from his own brother-in-law and since there is nothing to suggest that the transaction is a commercial transaction and is not genuine, penalty liable to be deleted - AT Highlights Income Tax Wed, 08 Apr 2020 18:04:32 +0530 https://www.taxtmi.com/highlights?id=52844