Violation of Section 269SS on cash deposits leads to penalties u/s 271D, not additions u/s 68. https://www.taxtmi.com/highlights?id=58826 Addition u/s 68 - Violation of provisions of section 269SS - unexplained cash deposit - Violation of provisions of section 269SS of the I.T.Act calls for penalty u/s 271D of the I.T.Act, which is a separate proceeding. - Violation of provisions of section 269SS of the I.T.Act cannot be the ground for making addition u/s 68 of the I.T.Act. - AT en-us Sat, 17 Jul 2021 22:36:36 +0530 Sat, 17 Jul 2021 22:36:36 +0530 TaxTMI RSS Generator Violation of Section 269SS on cash deposits leads to penalties u/s 271D, not additions u/s 68. https://www.taxtmi.com/highlights?id=58826 Addition u/s 68 - Violation of provisions of section 269SS - unexplained cash deposit - Violation of provisions of section 269SS of the I.T.Act calls for penalty u/s 271D of the I.T.Act, which is a separate proceeding. - Violation of provisions of section 269SS of the I.T.Act cannot be the ground for making addition u/s 68 of the I.T.Act. - AT Highlights Income Tax Sat, 17 Jul 2021 22:36:36 +0530 https://www.taxtmi.com/highlights?id=58826