Section 269ss

This query is : Open

Dishank Shah (Querist)
Follow

22 July 2013 If the loan is repaid by the third party on behalf of the assessee directly to the creditor and the same amount stands under the head of loans in the balance sheet of the assessee. Whether it violated the provision of sec. 269SS attracting the penalty u/s. 271D of the I.T. Act?
Please also provide case laws in these reference.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

22 July 2013 if the assessee himself pays rs 20,000 or more in cash for loan then only sec 269SS or 269T is attracted.

in the given case above it is not attracted though u need to adjust a/c accordingly..

Dishank Shah

Dishank Shah (Querist)
Follow

22 July 2013 Thanks alot

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Namita Fule

Amit Yadav

Krishnan V

sriram deven

PARAS CHHAJED

Subscribe Now

Section 269ss

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Manager- Finance and Compliance

Accountant

Article Assistant

GST CONSULTANT

CA Final