Home / 
Court Upholds Penalty u/s 271D for Unsubstantiated Cash Receipts; Clarifies Non-Interest-Bearing Deposits Treated Like Loans.
X X X X Extracts X X X X
X X X X Extracts X X X X
....Levy of penalty u/s.271D - assessee has not been able to substantiate its claim for receiving amounts in cash - A deposit need not be interest bearing. So also a loan - levy of penalty confirmed.....
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
TaxTMI