ACIT CENT.CIR-2(1) , , MUMBAI vs. M/S. LILAVATI KIRTILAL MEHTA MEDICAL TRUST, MUMBAI
In the result, Revenue’s appeal stands dismissed
ITA 1568/MUM/2021[2018-19]Status: DisposedITAT Mumbai30 Aug 2022AY 2018-19
Bench: Shri Amit Shukla & Shri Gagan Goyal
For Appellant: Smt. Shailja Rai, CIT-DRFor Respondent: Sh. Vijay Mehta
Section 12ASection 131Section 250Section 269SSection 271D
271E could not be imposed for contravening provisions of section 269T in the absence of finding to effect that repayment of loan/deposit was not a bona fide transaction and was made with view to evade tax."
Also, in the case of Asst. Director of Inspection vs Kum. A.B. Shanthi Hon'ble
Supreme Court has held that, section 273B provides that
