Taxpayer approaches Delhi
HC against the levy of penalty for accepting loan by way of electronic
transfer; Delhi HC issues notice to Revenue and grants stay on recovery of the
penalty pursuant to a writ petition filed by the assessee company challenging penalty
order passed u/s. 271D for contravening Sec. 269SS provisions; During AY
2013-14, assessee had received loan through Electronic clearing system (‘ECS’)
and consequently penalty was imposed by AO since the payment was not by way of
cheque or bank draft; Before HC, assessee submits that Finance (No. 2) Act,
2014 amendment in Sec. 269SS allowing use of ECS was curative in nature and
hence should be applied retrospectively; Further, assessee argues that penalty
is contrary to the legislative intent; HC lists the matter for November 22
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