Tribunal Waives Penalty for Cash Loan Repayments u/s 271E Due to Reasonable Explanation of Circumstances by Assessee.

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....Penalty u/s 271E - repayment of the loans in question in cash - default u/s 269SS - reasonable cause - the repayment of advances from regular parties are identifiable and the assessee has explained the circumstances in which it was constrained to make the repayment of the loans in question in cash - No penalty - AT....