Penalty Confirmed for Assessee u/ss 271D and 271E for Failing to Justify Cash Borrowing as Business Commitment.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Penalty passed u/s.271D and 271E - assessee has not brought on record any material to show that due to business commitment, the assessee has borrowed money in cash - levy of penalty confirmed - AT....