Tuesday, May 12, 2015

[aaykarbhavan] Cash loan of above Rs. 20,000 taken by builder to meet immediate requirement of business won’t attract penalty



Cash loan of above Rs. 20,000 taken by builder to meet immediate requirement of business won't attract penalty

May 12, 2015[2015] 56 taxmann.com 439 (Gujarat)
IT : Penalty under section 271D could not be levied when assessee sufficiently process that loan was taken in excess of Rs. 20,000 to meet urgent and immediate requirement of Business
Regards
Prarthana Jalan


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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>


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