30 July 2010
My Client has availed two loans during the financial year 09-10 one is Rs.2.00 lakhs from a corporate finance and another is Rs.1.50 lakhs from financial institutions by Account Payee Cheque for purchase of Vehicle. He repaid in a monthly instalment to both by cash Rs.10000/- & Rs.7500/- respectively for 11 months during the same financial year 09-10. Wheather 269T will be attracted or not?
CAclubindia
