https://www.taxtmi.com/caselaws?id=11808 Penalty under section 271D was not sustainable because section 269SS was not attracted on the facts found. The transaction was carried out through an account payee cheque, with no cash payment by the assessee or on its behalf, and the amount was only debited in the books through a journal entry. On the Tribunal's factual findings, no loan or deposit was accepted in cash so as to trigger the statutory prohibition. en-us Tue, 28 Jan 2003 00:00:00 +0530 Mon, 29 Sep 2025 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11808 Penalty under section 271D was not sustainable because section 269SS was not attracted on the facts found. The transaction was carried out through an account payee cheque, with no cash payment by the assessee or on its behalf, and the amount was only debited in the books through a journal entry. On the Tribunal's factual findings, no loan or deposit was accepted in cash so as to trigger the statutory prohibition. Case-Laws Income Tax Tue, 28 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11808