In the result, the appeal of the assessee is allowed
Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year: 2017-18
section 273B of the Act. 38. With respect to assessee's claim that the transaction in question was neither loan nor deposit because the amount having been received from the trustee, was receipt to oneself, there was no reason for levy of penalty under s. 271D of the Act and that the default, if any, was of technical