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Effect of 269 ss & st ??

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(Querist)
15 September 2012 dear experts,
in my business due to cash deficit, i've received cash from my father's HUF a/c rs.19000 * 6 days (total receipt rs.114000)
And 3 months later i repaid rs.114000 in 6 days.( rs.19000 each day) what will be the effect for this. pls clarify
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
15 September 2012 No Where Issue Arise.
If Tax Audit is Applicable to Your Prop. Firm (Not Company), Then Only Section 29SS Attract When Cash Taken in Exceed 20k.
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shanker

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shanker (Querist)
15 September 2012 yes sir, mine is a 44 AB case. in that scenario will 269 SS attracts?
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
15 September 2012 Yes, In This Case 269ss Get Attract.
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
15 September 2012 Section 269SS attracts even if the outstanding balance exceeds Rs. 20000.
Accordingly, section 269SS will get attracted.
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
15 September 2012 Section 269SS has nothing to do with tax audit u/s 44AB
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