| Question And Answer | |
|---|---|
| Subject: | cash transactions penalty provision applicabel |
| Category: | Income-Tax |
| Querist: | kollipara sundaraiah |
| Answered by: | Reply of the Expert is awaited; |
| Tags: | deposit of cash, penalty |
| Date: | January 27, 2025 |
sir,
cash loan payment transactions dt:10-10-24
it assessee cash loan to relative(name Mr.A) rs:10 lacs amount through on cash mode paid
After another cash loan repayment transactions dt:10-12-24
it assessee cash loan from relative rs:10 lacs name Mr.A)amount repayment received through on bank channel mode.
Query;
Above transactions viloation of it rules and penality provision applicable in it act.
Reply of the Expert is awaited. Please check back later
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