Tribunal held that, money returned to father, receipt of money from family members for medical emergency and receipt of money from member of association for building school is neither loan or advances hence levy of penalty is held to be not justified (AY. 2013-14)
Gourang Chandra Nayak v. Jt. CIT (2020) 77 ITR 192 (SN) (Cuttack) (Trib.)
S. 271D : Penalty–Takes or accepts any loan or deposit–Money returned to father–Receipt of money from family members for medical emergency–Receipt of money from member of association for building school-Neither loan or advances–Levy of penalty is held to be not justified. [S. 269SS, 273B]