https://www.taxtmi.com/highlights?id=67321 Penalty u/s. 271D - assessee has repaid loans/ deposits from various sister concerns through journal entries, i.e., otherwise than account payee cheques/draft - though the assessee has violated the provisions of ss. 269SS/269T of the Act in respect of journal entries, the assessee has shown reasonable cause and, therefore, the penalty imposed u/s 271D/271E of the Act are not sustainable. - AT en-us Sat, 24 Dec 2022 15:04:29 +0530 Sat, 24 Dec 2022 15:04:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=67321 Penalty u/s. 271D - assessee has repaid loans/ deposits from various sister concerns through journal entries, i.e., otherwise than account payee cheques/draft - though the assessee has violated the provisions of ss. 269SS/269T of the Act in respect of journal entries, the assessee has shown reasonable cause and, therefore, the penalty imposed u/s 271D/271E of the Act are not sustainable. - AT Highlights Income Tax Sat, 24 Dec 2022 15:04:29 +0530 https://www.taxtmi.com/highlights?id=67321