Penalty on Loans Over Rs. 20,000: Exclude Rs. 20,000 as Permissible Per Section 269SS, Per Assessing Officer Instructions.

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....Penalty u/s 271D - Penalty can be levied on the amounts of loan which exceeds the amount of ₹ 20,000/-. Therefore, the A.O. is directed to exclude ₹ 20,000/- as permissible u/s 269SS, while levying penalty u/s 271D - AT....