| Originally posted by : SHARWAN GOEL | ||
 |
These Cash transactions continued for 3 years. So at the time of repayment by property dealers will section 269T will be attracted or not my major concern is tihis |
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Hi friend,
The property dealer should pay penalty under section 269T at the time of repayment. But the AO may not impose penalty for the contravention of 269T if penalty under section 271D for the breach of 269ss is imposed for the same transaction.
| Originally posted by : SHARWAN GOEL | ||
|
|
These Cash transactions continued for 3 years. So at the time of repayment by property dealers will section 269T will be attracted or not my major concern is tihis |
|
Hi friend,
The property dealer should pay penalty under section 269T at the time of repayment. But the AO may not impose penalty for the contravention of 269T if penalty under section 271D for the breach of 269ss is imposed for the same transaction.
CAclubindia
