https://www.taxtmi.com/caselaws?id=13041 The court dismissed the appeal by the Department, affirming that the transaction in question was a loan or accommodation and not a deposit as per section 269T. The Commissioner of Income-tax (Appeals) and the Income-tax Appellate Tribunal had previously concluded that the entries constituted a form of loan, not a deposit, in line with legislative intent. The court upheld this decision, stating that the respondents did not breach section 269T by treating the transaction as a loan or accommodation. en-us Tue, 19 Sep 2000 00:00:00 +0530 Fri, 11 Aug 2017 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13041 The court dismissed the appeal by the Department, affirming that the transaction in question was a loan or accommodation and not a deposit as per section 269T. The Commissioner of Income-tax (Appeals) and the Income-tax Appellate Tribunal had previously concluded that the entries constituted a form of loan, not a deposit, in line with legislative intent. The court upheld this decision, stating that the respondents did not breach section 269T by treating the transaction as a loan or accommodation. Case-Laws Income Tax Tue, 19 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13041