https://www.taxtmi.com/highlights?id=64863 Penalty u/s 271D - Journal entries - urgent need to make payment towards EPF - there was cash deposit in the bank account which is contravention of the provisions of Section 269SS (b) - The assessee clearly established that the loan availed by the Director is transferred to the assessee company because of its company is urgent need of cash/finance. - No penalty - AT en-us Fri, 29 Jul 2022 09:15:52 +0530 Fri, 29 Jul 2022 09:15:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=64863 Penalty u/s 271D - Journal entries - urgent need to make payment towards EPF - there was cash deposit in the bank account which is contravention of the provisions of Section 269SS (b) - The assessee clearly established that the loan availed by the Director is transferred to the assessee company because of its company is urgent need of cash/finance. - No penalty - AT Highlights Income Tax Fri, 29 Jul 2022 09:15:52 +0530 https://www.taxtmi.com/highlights?id=64863