whether assessing officer disallowed my penalty under 269SS
and add in my net profit and I liable to pay tax?
kindly explain the accounting for the same?
Penalty for violation of Sec 269SS is mentioned under sec 271D.
As per sec 271D, penalty shall be equivalent to amount of loan taken in cash.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
