Assessee-company had taken loan from its director in cash for purpose of purchase of lands in name of company. Assessing Officer levied penalty under section 271D. Tribunal held that the entire amount of loan had been utilized for acquisition of capital asset for purpose of business of company; and assessee and director both had disclosed transactions in their books of account for relevant previous year. since said transaction between assessee-company and director was in nature of current account transactions, which did not come under purview of loan and deposit as per section 269SS, impugned penalty levied under section 271D was to be deleted. (AY. 2008-09)