[aaykarbhavan] No sec. 269SS violation on acceptance of cash loan from spouse due to business exigencies; ITAT deletes penalty

No sec. 269SS violation on acceptance of cash loan from spouse due to business exigencies; ITAT deletes penalty

August 9, 2014[2014] 47 taxmann.com 143 (Jaipur - Trib.)

IT : Where assessee running a proprietorship concern, took cash loans from her husband carrying on another proprietorship business on account of business exigencies for making payments to labourers and lenders, there being no violation of provisions of section 269SS, impugned penalty order passed under section 271D was to be set aside

 

Regards

Prarthana Jalan

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

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