![Cash Transactions of Accepting Loans and Repayments due to Pressing Requirements: ITAT deletes Penalty for Establishing Reasonable Cause [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Cash-Transactions-Loans-Repayments-Pressing-Requirements-ITAT-Penalty-Reasonable-Cause-Taxscan.jpeg "Cash Transactions of Accepting Loans and Repayments due to Pressing Requirements: ITAT deletes Penalty for Establishing Reasonable Cause [Read Order]")
Cash Transactions of Accepting Loans and Repayments due to 'Pressing Requirements': ITAT deletes Penalty for Establishing 'Reasonable Cause' [Read Order]
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that penalty under sections 271D and 271E of the Income Tax Act, 1961 is not...
![Sec 269T of Income Tax Act restricting Cash Transactions above Rs. 20,000 not applicable to Repayment of Loans: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Income-Tax-Act-Cash-Transactions-Repayment-of-Loans-ITAT-Taxscan.jpg "Sec 269T of Income Tax Act restricting Cash Transactions above Rs. 20,000 not applicable to Repayment of Loans: ITAT [Read Order]")
![Cash Transactions between Trust and Managing Trustee are not covered u/s 269SS of Income Tax Act: ITAT deletes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Cash-Transactions-Trust-Managing-Trustee-Income-Tax-Act-ITAT-Penalty-Taxscan.jpg "Cash Transactions between Trust and Managing Trustee are not covered u/s 269SS of Income Tax Act: ITAT deletes Penalty [Read Order]")
![Telescoping Benefit allowable on Addition on Bogus Purchases, not on Cash generated out of such Purchase in Group Concerns: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Bogus-Purchases-Taxscan.jpg "Telescoping Benefit allowable on Addition on Bogus Purchases, not on Cash generated out of such Purchase in Group Concerns: ITAT [Read Order]")
![Madras High Court quashes Income Tax Proceedings against Karti Chidambaram and his Wife over Non-disclosure of Cash Transactions [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2020/12/Madras-High-Court-Cash-Transactions-Karti-Chidambaram-Income-Tax-Proceedings-Taxscan.jpg "Madras High Court quashes Income Tax Proceedings against Karti Chidambaram and his Wife over Non-disclosure of Cash Transactions [Read Judgment]")
Another Objective of DeMo Fails: Digital Transactions to go Expensive as Banks to Charge for UPI Transactions
In a setback to all persons using BHIM, Phone Pe, Google Pay etc., the Banks are going to charge a specific amount for such digital transactions. Kotak Mahindra bank has already announced that it’s...
Income Tax Department warns Cash Transactions, Welcomes Information on Black Money and Benami Transactions
In a bid to promote cashless economy and to eradicate black money in the country, the income tax department has reminded the taxpayers against cash transactions. Central Board of Direct Taxes (CBDT)...
Cash Loan from Wife for purchase of House for the benefit of Family won’t attract Penalty u/s 271D: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) recently held that cash loan from the wife for the purchase of the house which is for the benefit of the whole family cannot be a ground for...
![Cash Loan from Wife for purchase of House for the benefit of Family won’t attract Penalty u/s 271D: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/06/Cash-Loan-Payments.jpg "Cash Loan from Wife for purchase of House for the benefit of Family won’t attract Penalty u/s 271D: ITAT [Read Order]")
Penalty u/s 273B can’t be invoked for Restrictions on Cash Transactions If Assessee had a ‘reasonable cause’ for Violation of Law: ITAT Delhi
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has held that if the assessee had a reasonable cause for violation of law, then penalty under Section 273B of the Income Tax Act 1961 would...
