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Income Tax - Highlights / Catch Notes

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Penalty u/s 271D - loan accepted in cash - The cash loans in ...


Cash Loan Penalty Exemption for Transactions with Near Relatives u/s 271D and 269SS Explained.

January 5, 2019

Case Laws     Income Tax     AT

Penalty u/s 271D - loan accepted in cash - The cash loans in question cannot be said fall within the mischief of Section 269SS as near relatives cannot be said to be “Other person” within the meaning of Sec.269SS.

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