No Penalty u/s 271E: No Unsecured Loan Recorded, Only Debit Balance in Payee's Account Upon Cash Repayment.

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....Penalty u/s 271E - section 269T is applicable only on repayment of any loan or deposit taken by the assessee - at the time of repayment in cash there was no unsecured loan standing in the books of assessee - rather there was debit balance in the account of payee - No penalty - AT....