In the books of A
A is a partnership firm
Opening Balance under the head "Loans & Advances is Rs.150000 in the name of B.
From B It had received in repayment of the same in cash but less than RS.20000 in the current year.
It had also received an advance by A/c Payee Cheque of a sum of Rs.176000 from B.
So, my queryis whether it attracts the penal provisions of Sec.269 for not accepting repayments otherwise than account payee cheque for A ?
Hoping for quick reply.