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Section 271D10 Section 271E10 Section 269S4 Section 269T2 Section 143(3)2 Short Term Capital Gains2 Exemption2 Penalty2 Addition to Income2 Set Off of Losses

TEJ NARAYAN AGARWAL, HYD,HYDERABAD vs. ADDL.CIT, RANGE-8, HYD, HYDERABAD

In the result, assessee’s appeals are allowed

ITA 1378/HYD/2015[2010-11]Status: DisposedITAT Hyderabad27 Jul 2018AY 2010-11

Bench: Smt. P. Madhavi Devi & Shri S.Rifaur Rahman

For Appellant: Shri K.A. Sai PrasadFor Respondent: Smt. M. Narmada, DR

Section 143(3)Section 269SSection 269TSection 271DSection 271E

capital gain which was set off against the carried forward loss. Subsequently, the AO initiated the penalty proceedings u/s 271D and also u/s 271E of the Act on the ground that the assessee has received loans in cash and also repaid the loans in cash in violation of the provisions of section