Help me Urgent-269SS

Dear Parth,

Since Husband is earning taxable income, he shall not be covered by the exception provided by provisio to Section 269SS.

Further, Reasonable cause u/s 273B can be reasonably said to be a cause which prevents a man of ordinary prudence and average intelligence, acting under normal circumstances, without negligence or inaction or want of bona fides. In my opinion, there seems no reasonable cause for entering into said transaction.

In this case, if the husband is not under any obligation to repay the sum i.e this amount was gifted by wife due to natural love and affection. Then it does not fall under the definition of "Loan or deposit", so as to be out of the ambit of section 269SS & 269T.

Look out for others' reply

Whether the  Plot is purchased in joint name ?  Ans may be NO........

Whether the amount received from wife can be shown as advance received against sale of his  own Agriculture Land to her ? Ans  -Depends upon his land holdings.

Whether the amount received from wife can be shown as advance received against any other fixed asset if there be any  ?

Verify such possibilities as loans or deposits are different than such advances.