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Court Confirms Penalties u/ss 271D and 271E for Cash Loans Violating Section 261SS; Not All Receipts Are Loans.

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....Penalty levied u/s 271D and 271E - cash loans taken by the assessee in contravention of 261SS - There is no law that every receipt from a partner or a sister concern cannot, in all circumstances, be treated as a loan or deposit. - levy of penalty confirmed - HC....

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