Consistent Cash Transactions with Unlicensed Lender Violate Income Tax Act Sections 271D and 271E Penalties.

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....Penalty u/s 271D and 271E - If loan in cash is taken once or twice, in exceptional exigencies, may be a ground for interference, but when the fact remains that a lender not even licensed was illegally giving loans only in cash and accepting repayment in cash cannot be a ground for condonation of regular transaction with such unauthorised lender.....