Held that merely on the basis of Whatsapp messages between Employee and promoter of group adverse inference cannot be drawn on the basis of presumptions. Penalty levied for violation of section 269SS of the Act was deleted. (AY.2013-14, 2014-15, 2015-16, 2016-17)
Ekta Housing Pvt. Ltd. v. Dy. CIT (2021) 89 ITR 56 (Mum.)(Trib.)
S. 271D : Penalty-Takes or accepts any loan or deposit-Whatsapp messages-Employee and promoter of group-Receipt of cash not proved-Penalty cannot be levied. [S. 269SS]