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ITAT, Delhi: No Penalty on Receiving Cash Loan from Family Members to Meet Business Exigency - (18 Apr 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal, Delhi has observed that the penalty under sections 271D and 271E of the Income Tax Act, 1961 cannot be leviable on receipt of cash loan to meet business exigencies from family members.

Tags : INCOME TAX APPELLATE TRIBUNAL   CASH LOAN   BUSINESS EXIGENCY  

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