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![Penalty u/s 271D of Income Tax Act cant be imposed on loan transactions made through Banking Channels: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Penalty-Income-Tax-Act-imposed-loan-transactions-Banking-Channels-ITAT-taxscan.jpg "Penalty u/s 271D of Income Tax Act cant be imposed on loan transactions made through Banking Channels: ITAT [Read Order]")
Penalty u/s 271D of Income Tax Act can't be imposed on loan transactions made through Banking Channels: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the penalty under Section 271D of the Income Tax Act, 1961 cannot be...
![LIBOR is appropriate Benchmarking Rate for determining ALP on outbound Loan Transactions: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/LIBOR-appropriate-Benchmarking-Rate-ALP-outbound-Loan-Transactions-ITAT-Appeal-taxscan.jpg "LIBOR is appropriate Benchmarking Rate for determining ALP on outbound Loan Transactions: ITAT dismisses Appeal [Read Order]")
![Onus to Prove Authenticity of Loan Transactions is on Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Loan-Transactions-Assessee-ITAT-taxscan.jpg "Onus to Prove Authenticity of Loan Transactions is on Assessee: ITAT [Read Order]")
