https://www.taxtmi.com/highlights?id=56293 Penalty u/s. 271E - Cash paid towards repayment of finance obtain for purchase of trucks - as well as the Ld. CIT(A) have not doubted the genuineness of the transactions. It is also not clear whether the finance obtained is, a lease finance or hire purchase finance. The assessee has explained the urgency leading to payment of instalment in cash. The lender have confirmed this fact. It is a fact that CBIL ratings are efficiently resulting in effect on business. - No penalty - AT en-us Wed, 13 Jan 2021 11:42:19 +0530 Wed, 13 Jan 2021 11:42:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=56293 Penalty u/s. 271E - Cash paid towards repayment of finance obtain for purchase of trucks - as well as the Ld. CIT(A) have not doubted the genuineness of the transactions. It is also not clear whether the finance obtained is, a lease finance or hire purchase finance. The assessee has explained the urgency leading to payment of instalment in cash. The lender have confirmed this fact. It is a fact that CBIL ratings are efficiently resulting in effect on business. - No penalty - AT Highlights Income Tax Wed, 13 Jan 2021 11:42:19 +0530 https://www.taxtmi.com/highlights?id=56293