Penalty for violeting S.269SS of ITA,1961
This query is : Resolved
11 January 2010
If a loan is accepted or repaid otherwise than by account payee cheque (i.e. shown by passing journal voucher, who can impose such penalty?, can assessee do anything to escape from the levy of penalty U/s. 269SS? HOW?
Plz solve as far as possible...
Plz solve as far as possible...
11 January 2010
Dear,
You can't escape from this if violation of Section 269 SS is no genuine reason is there to justify such payment other than by an account payee cheque or Draft.
In this case auditors would give the qulalified opinion and AO would levy the penalty.
With Regards
Sanjeev
You can't escape from this if violation of Section 269 SS is no genuine reason is there to justify such payment other than by an account payee cheque or Draft.
In this case auditors would give the qulalified opinion and AO would levy the penalty.
With Regards
Sanjeev
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Type of Capital Gain
- Booth for sales promotion
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
