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SLP granted against ruling that penalty not leviable u/s 269T if liability was recorded by way of journal entry

April 29, 2019[2019] 107 460 (SC)/[2019] 265 Taxman 242 (SC)

INCOME TAX: Where High Court upheld Tribunal's order holding that even though liability recorded in books of account by way of journal entries i.e. crediting amount of party to whom monies payable and debiting account of a party from whom monies were receivable in books of account was in contravention of provisions of section 269T, yet in that case penalty was not leviable for reason that transaction was bona fide and was not to evade taxes, SLP filed against said decision was to be granted
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