repayment of loan in cash
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 December 2010
friends, in one case the assessee repaid in cash loan of 2 lacs taken from his wife i would like to know if there are any case laws which can protect the assessee from 269T vioaltion
19 December 2010
case law Dr. B G Panda v. CIT (2000) 111.
IN this case loan was taken from wife without interest for co nstruction of house for family and also there was no promise to return the money , It was said there is reasonable cause to not complying sec 269T.
IN this case loan was taken from wife without interest for co nstruction of house for family and also there was no promise to return the money , It was said there is reasonable cause to not complying sec 269T.
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