![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...
![No Penalty u/s 271D of Income Tax Act in the Absence of Assessment Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-Tax-Act-No-Penalty-Absence-of-Assessment-Proceedings-ITAT-Income-Tax-Assessment-Proceedings-taxscan.jpg "No Penalty u/s 271D of Income Tax Act in the Absence of Assessment Proceedings: ITAT [Read Order]")
![Penalty Against Agriculturist for Accepting Loan Through Banking Channel u/s 269SS of IT Act, 1961: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Penalty-Agriculturist-Accepting-Loan-Banking-Channel-IT-TAXSCAN.jpeg "Penalty Against Agriculturist for Accepting Loan Through Banking Channel u/s 269SS of IT Act, 1961: ITAT [Read Order]")
![No Penalty can be Levied u/s 271D of Income Tax Act without any Evident Reason: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Penalty-No-Penalty-Income-Tax-Act-Evident-Reason-income-tax-act-taxscan.jpg "No Penalty can be Levied u/s 271D of Income Tax Act without any Evident Reason: ITAT dismisses Appeal [Read Order]")
![ITAT upholds Penalty imposed for violating Provision of S.269SS of Income Tax Act due to accepting Loan from Company’s Managing Director [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Penalty-violating-Provision-Income-Tax-Act-Loan-from-Companys-Managing-Director-Loan-Companys-Managing-Director-taxscan.jpg "ITAT upholds Penalty imposed for violating Provision of S.269SS of Income Tax Act due to accepting Loan from Company’s Managing Director [Read Order]")
ITAT quashes Penalty imposed u/s 271D of Income Tax Act in Absence of Satisfaction in Assessment Order [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) held that a penalty can’t be imposed under Section 271D of the Income Tax Act, 1961 if there is no satisfaction in the assessment...
![ITAT quashes Penalty imposed u/s 271D of Income Tax Act in Absence of Satisfaction in Assessment Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Assessment-Order-passed-without-enquiry-Assessment-Order-CFS-Charges-Continental-Warehousing-Corporation-ITAT-Revision-Order-taxscan.jpg "ITAT quashes Penalty imposed u/s 271D of Income Tax Act in Absence of Satisfaction in Assessment Order [Read Order]")
ITAT upholds Penalty Levied u/s 271D of IT Act for Contravention of Section 269SS for Accepting Loan and Advances other than by way of Account Payee Cheques
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has recently upheld that penalty levied under section 271D of the Income Tax Act 1961 for contravention of Section 269SS of Income...
Penalty u/s 271 D of Income Tax Act Passed Beyond 6 Months is Barred by Limitation: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) of Delhi bench has held that penalty under Section 271 D of the Income Tax Act, 1961 passed beyond 6 months from the end of the month in which the assessment...
![Penalty u/s 271 D of Income Tax Act Passed Beyond 6 Months is Barred by Limitation: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Penalty-Income-Tax-Act-Income-Tax-Income-Tax-Act-Passed-Beyond-6-Months-is-Barred-by-Limitation-ITAT-taxscan.jpg "Penalty u/s 271 D of Income Tax Act Passed Beyond 6 Months is Barred by Limitation: ITAT [Read Order]")
![ITAT Quashes Invalid Penalty Order on Deceased Assessee u/s 159(2) of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/ITAT-Quashes-Invalid-Penalty-Order-Deceased-Assessee-us-1592-of-Income-Tax-Act-TAXSCAN.jpg "ITAT Quashes Invalid Penalty Order on Deceased Assessee u/s 159(2) of Income Tax Act [Read Order]")
![Contravention of S. 269SS for Sale of Property for HUF: ITAT Upholds Penalty u/s 271D [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Contravention-Sale-of-Property-HUF-ITAT-Penalty-Taxscan.jpg "Contravention of S. 269SS for Sale of Property for HUF: ITAT Upholds Penalty u/s 271D [Read Order]")
“Loan Given” in Cash Exceeding Prescribed Limit does not attract Penalty u/s 271D of Income Tax Act: ITAT [Read Order]
The Indore bench of Income Tax Appellate Tribunal ( ITAT ) recently held that in case of “loan given” Penalty under section 271D Income Tax Act 1961 would be invalid. The fact of the case is that...
![“Loan Given” in Cash Exceeding Prescribed Limit does not attract Penalty u/s 271D of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Loan-Cash-Exceeding-Penalty-Income-Tax-Act-Income-Tax-Tax-ITAT-Taxscan.jpg "“Loan Given” in Cash Exceeding Prescribed Limit does not attract Penalty u/s 271D of Income Tax Act: ITAT [Read Order]")
Lapse of Six Months on Penalty proceedings violation of Cash Transactions u/s 269SS: Delhi HC quashes Penalty [Read Order]
The Delhi High Court quashed penalty under Section 271D of the Income Tax Act, 1961 on the ground that there was lapse of six months on penalty proceedings on violation of cash transactions under...
![Lapse of Six Months on Penalty proceedings violation of Cash Transactions u/s 269SS: Delhi HC quashes Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Penalty-penalty-proceedings-Cash-Transaction-violation-of-cash-transactions-Delhi-HC-penalty-taxscan.jpg "Lapse of Six Months on Penalty proceedings violation of Cash Transactions u/s 269SS: Delhi HC quashes Penalty [Read Order]")