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2004 (5) TMI 28 - MADHYA PRADESH HIGH COURTContravention of section 269T – penalty for violation of section 27IE - of taking or accepting certain loans and deposits - A bare reading of section 269T prior to the amendment and section 269SS makes it abundantly clear that the Legislature made a distinction between the mode of repayment of certain deposits which conditions provided in section 269T were not made applicable to a case of loan; loans and deposits have been treated differently in section 269SS and the unamended section 269T - Loan had not been included in deposit under unamended section 269T, thus, the scheme of sections 269SS and 269T as the provision stood before amendment in the relevant assessment year provided for repayment of certain "deposit" by way of account payee cheque not that of loan – Thus, this revenue’s appeal is meritless so it is dismissed
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