Cash transaction threshold increased, altering the statutory ceiling and compliance requirements under income-tax law. Section 269P of the Income-tax Act is amended by substituting the earlier monetary ceiling with a higher specified amount, thereby raising the statutory cash transaction limit that triggers the provision; the substitution is declared to operate with effect from the 1st day of June, 1984 and changes the applicable compliance threshold under the section.
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Provisions expressly mentioned in the judgment/order text.
Cash transaction threshold increased, altering the statutory ceiling and compliance requirements under income-tax law.
Section 269P of the Income-tax Act is amended by substituting the earlier monetary ceiling with a higher specified amount, thereby raising the statutory cash transaction limit that triggers the provision; the substitution is declared to operate with effect from the 1st day of June, 1984 and changes the applicable compliance threshold under the section.
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