DCIT CENTRAL CIRCLE-2, BHUBANESWAR vs. M/S. HOTEL SUKHAMAYA PVT. LTD, BHUBANESWAR

In the result, all the three appeals of the Revenue are dismissed

4) of the Act has accepted that these transactions are loan transactions and, therefore, the assessee has violated the provisions of Section 269SS & 269T of the Act. Thereafter the JCIT has proceeded to levy the penalty u/s.271D & 271E of the Act for the respective assessment years. In first appeal, the ld. CIT(A) after considering the submissions of the assessee

DCIT CENTRAL CIRCLE-2, BHUBANESWAR vs. M/S. HOTEL SUKHAMAYA PVT. LTD, BHUBANESWAR

In the result, all the three appeals of the Revenue are dismissed