CORPORATE AND PROFESSIONAL UPDATE SEPT 15, 2016
Today updates: Direct Tax: ITAT Pune in the below citied case held that penalty u/s.271D shall not be levied where assessee had taken cash loan from her husband and mother-in-law which has been repaid in cash.The expression “reasonable cause” in section 273B for non imposition of penalty u/s.271D and 271E would have to be construed …