Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(161504 Points)
Replied 29 July 2018
Accepting/ repaying loans/ advances via journal entries contravenes Section 269SS & 269T but Penalty cannot be levied under section 271D and Section 271E of the Income Tax Act,1961 if transactions are bona fide & genuine. .... Lodha Builders Pvt Ltd Vs ACIT (ITAT Mumbai)
Also refer: https://www.caclubindia.com/forum/details.asp?mod_id=13170
rama krishnan
(12234 Points)
Replied 29 July 2018
"Live Course on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
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