SHRI PRAKASH JIWANDAS WANJARI,NAGPUR vs. JOINT COMMISSIONER OF INCOME TAX, NAGPUR
In the result, we are of the considered view that the case on hand does not warrant levy of penalty under Section 271D of the Act
ITA 232/NAG/2022[2011-12]Status: DisposedITAT Nagpur25 Oct 2024AY 2011-12
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
For Appellant: Shri Mahavir AtalFor Respondent: Shri Abhay Y. Marathe
Section 143(3)Section 147Section 148Section 269SSection 271DSection 273ASection 80C
section 271D of the Act can be validly levied in this case.
Accordingly, I cancel the impugned penalty.
2.18 Moreover, the genuinity of the transaction of cash loans accepted by the appellant can be seen from the bank statement itself. The bank account in which the appellant had deposited the cash loans clearly show that the appellant had received
