https://www.taxtmi.com/caselaws?id=781283 The HC affirmed imposition of penalty under s.271D despite treating the contested receipt as income under s.68, finding the appellant failed to prove the loan's genuineness; the fact that the amount was assessed as income did not preclude levy of the penalty relating to cash return/deposit to a third party. The appellant's challenge lacked merit, the question of law was answered against the appellant, and the appeal was dismissed in favor of the Revenue. en-us Tue, 04 Nov 2025 00:00:00 +0530 Thu, 13 Nov 2025 08:14:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781283 The HC affirmed imposition of penalty under s.271D despite treating the contested receipt as income under s.68, finding the appellant failed to prove the loan's genuineness; the fact that the amount was assessed as income did not preclude levy of the penalty relating to cash return/deposit to a third party. The appellant's challenge lacked merit, the question of law was answered against the appellant, and the appeal was dismissed in favor of the Revenue. Case-Laws Income Tax Tue, 04 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781283