The reasons was basically recorded stating that the admission off desired out of loan must be scrutinized in detail
- Where deals by way of log entries are geared towards extinguishment out of mutual liabilities between assessee and you may sibling inquiries from class, penalty isn’t leviable lower than parts 271D / 271E – Lodha Builders (P.) Ltd. v. ACIT [(2014) 34 ITR (Trib.) 157 (Mum.)] Choosing loans and you can repayments through record entries is actually hit from the related arrangements from part 269SS/269T.
03 Marzo, 2023