Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (9) TMI 794 - HC - Income TaxWhether the amount received by the assessee by way of cash in excess of Rs. 20,000/- is neither a loan nor deposit and therefore section 269SS is not attracted - learned counsel appearing for the Revenue assailing the impugned order contended that in the arguments before the Commissioner of Income-tax (Appeals) it is admitted that it is only a technical error or a mere breach and therefore there is a clear admission - Held that: the purpose for which the said amount was received is also clear from the material on record and therefore there is nothing to indicate that this amount is paid as loan or deposit - Decided in favor of the assessee
|