{"id":11072,"date":"2020-04-02T07:42:20","date_gmt":"2020-04-02T07:42:20","guid":{"rendered":"http:\/\/itatonline.org\/digest\/savita-s-gangadshetti-smt-v-jcit-2020-77-itr-79-sn-bang-trib\/"},"modified":"2020-04-02T07:42:20","modified_gmt":"2020-04-02T07:42:20","slug":"savita-s-gangadshetti-smt-v-jcit-2020-77-itr-79-sn-bang-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/savita-s-gangadshetti-smt-v-jcit-2020-77-itr-79-sn-bang-trib\/","title":{"rendered":"Savita S. Gangadshetti (Smt.) v. JCIT (2020) 77 ITR 79 (SN) (Bang.)(Trib.)"},"content":{"rendered":"<p>Tribunal held\u00a0\u00a0 that according to the assessee, she received a gift from her husband in cash. Thereafter, she had given gift to her husband in cash. Since the gift amount received and repaid was the same even if it was considered as loan transactions, the penalty was not leviable since the loan transactions between close relatives were considered to constitute reasonable cause in terms of S. \u00a0273B. Since the transactions had been entered into between the assessee and her husband the penalty levied under S. \u00a0271E\u00a0was not sustainable. (AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 271D : Penalty\u2013Takes or accepts any loan or deposit\u2013Gift transactions between husband  and wife-Levy of penalty is held to be not valid.  [S. 269SS,  269T, 271E, 273B] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11072","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2SA","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=11072"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11072\/revisions"}],"predecessor-version":[{"id":11073,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/11072\/revisions\/11073"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=11072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=11072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=11072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}