Assessee Avoids Penalty for Cash Loan Violation; Explanation Accepted u/s 271D, Supported by Section 273B.

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....Penalty proceedings u/s. 271D - assessee had received loans in cash - violation of provisions u/s 69SS - Explanation given was accepted in assessment proceedings, so the same can be considered as reasonable for accepting cash for the purpose of section 271D read with section 273B - AT....