{"id":4573,"date":"2019-03-28T10:35:54","date_gmt":"2019-03-28T10:35:54","guid":{"rendered":"http:\/\/itatonline.org\/digest\/vasan-healthcare-p-ltd-v-add-cit-2019-411-itr-499-mad-hc\/"},"modified":"2021-08-25T04:54:39","modified_gmt":"2021-08-24T23:24:39","slug":"vasan-healthcare-p-ltd-v-add-cit-2019-411-itr-499-mad-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/vasan-healthcare-p-ltd-v-add-cit-2019-411-itr-499-mad-hc\/","title":{"rendered":"Vasan Healthcare P. Ltd. v. Add. CIT (2019) 411 ITR 499 \/ 261 Taxman 594\/ 177 DTR 9\/308 CTR 346(Mad.)(HC)Editorial: Order of Tribunal in  Vasan Healthcare Pvt Ltd v. Add.CIT  ( 2019) 69 ITR  189 ( Chennai)(Trib)  ,Vasan Medical Centre (I) P.Ltd v. Add.CIT  ( 2019)69 ITR  189 ( Chennai)(Trib)  is affirmed .SLP of assessee dismissed , Vasan Healthcare P. Ltd. v. Add. CIT  ( 2021 ) 278 Taxman 273 (SC)"},"content":{"rendered":"<p>Dismissing the appeal the Court held that, the Tribunal found that it had been admitted that cash had been deposited into the bank account of the assessee, but why the funds were withdrawn in cash for repayment to the director and subsequently to the financier remained unexplained. Further the Tribunal had found that the assessment order of the financier showed unaccounted cash and had concluded that the assessee had been used as custodian of the unaccounted cash of the financier. The assessee was not able to give any explanation to substantiate with evidence for repayment of the deposits to the financier. Thus after considering all the factual aspects, the Tribunal had rightly confirmed the levy of penalty under section\u00a0271E. (AY.2012-13 to 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 271E : Penalty-Repayment of loan or deposit\u2013No commercial exigency is shown\u2013Levy of penalty is held to be justified. [S. 2(31), 269SS, 271D, 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-4573","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1bL","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4573","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=4573"}],"version-history":[{"count":6,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4573\/revisions"}],"predecessor-version":[{"id":21171,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4573\/revisions\/21171"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=4573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=4573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=4573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}