https://www.taxtmi.com/highlights?id=55831 Penalty u/s 271D and 271E - Accepting loans by way of cash in excess of the prescribed limit - If the assessee is able to establish that all the cash transactions are arising out of the bank withdrawals and recorded in the assesse’s books of accounts within a reasonable span of time from the date of cash withdrawals from the respective bank accounts and further if all the entities are pertaining to sister concerns (arising out of the same group of ownership), then the provisions of section 269SS and 269T will not be applicable - AT en-us Thu, 10 Dec 2020 08:23:42 +0530 Thu, 10 Dec 2020 08:23:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=55831 Penalty u/s 271D and 271E - Accepting loans by way of cash in excess of the prescribed limit - If the assessee is able to establish that all the cash transactions are arising out of the bank withdrawals and recorded in the assesse’s books of accounts within a reasonable span of time from the date of cash withdrawals from the respective bank accounts and further if all the entities are pertaining to sister concerns (arising out of the same group of ownership), then the provisions of section 269SS and 269T will not be applicable - AT Highlights Income Tax Thu, 10 Dec 2020 08:23:42 +0530 https://www.taxtmi.com/highlights?id=55831