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2013 (12) TMI 314 - HC - Income TaxViolation of section 269SS and 269T - Held that:- the assessee being a "shroff" has two lines of business cheque discounting business and money-lending business - The assessee had to discount the cheque for cash - The assessee had not taken any loan or deposit from the agriculturist by such transaction and, therefore, neither section 269SS nor section 269T are attracted - There is no question of any breach of section 269SS and/or section 269T of the Act as alleged - There was no question of levying any penalty under section 271D and section 271E of the Act - Decided against Revenue.
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