{"id":14011,"date":"2020-11-23T12:57:43","date_gmt":"2020-11-23T12:57:43","guid":{"rendered":"https:\/\/itatonline.org\/digest\/sudha-agro-oil-and-chemical-industries-ltd-v-add-cit-2020-79-itr-520-vishakha-trib\/"},"modified":"2020-11-23T12:57:43","modified_gmt":"2020-11-23T12:57:43","slug":"sudha-agro-oil-and-chemical-industries-ltd-v-add-cit-2020-79-itr-520-vishakha-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/sudha-agro-oil-and-chemical-industries-ltd-v-add-cit-2020-79-itr-520-vishakha-trib\/","title":{"rendered":"Sudha Agro Oil and Chemical Industries Ltd. v. Add. CIT (2020) 79 ITR 520 ( Vishakha) (Trib)"},"content":{"rendered":"<p>Tribunal held that the \u00a0assessment \u00a0was completed after verification of the books of account and had made no adverse comment with regard to payment of loan through demand drafts. The assessee also furnished the demand draft number in the account copy. Therefore, there was no reason to disbelieve the submission of the assessee that the repayment was made through demand drafts as furnished in the account copies and there was no case for levy of penalty under section\u00a0271E\u00a0with respect to the payments made to the depositors. Accordingly, the penalty was set aside.( AY.2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 271E : Penalty &#8211; Repayment of loan or deposit -Loans from directors \u2013 Reasonable cause \u2013 Repayment by demand draft &#8211;  levy of penalty is not justified .<\/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":[21],"tags":[],"class_list":["post-14011","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3DZ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14011","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=14011"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14011\/revisions"}],"predecessor-version":[{"id":14012,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14011\/revisions\/14012"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}