https://www.taxtmi.com/caselaws?id=14990 The court upheld the constitutional validity of Section 269SS of the Income-tax Act, 1961, which prohibits certain cash transactions exceeding a specified limit. The penalty imposed under Section 271D for non-compliance was deemed reasonable to prevent tax evasion. The court rejected claims of hostile discrimination between borrowers and lenders, affirming the legislative competence to enact such provisions. Despite arguments of potential hardship, the court emphasized the availability of relief under Section 273B for genuine cases. The appeals were dismissed, confirming the validity of the provisions and allowing an appeal on the penalty within a specified timeframe. en-us Sat, 25 Mar 2000 00:00:00 +0530 Mon, 27 Jul 2009 15:13:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14990 The court upheld the constitutional validity of Section 269SS of the Income-tax Act, 1961, which prohibits certain cash transactions exceeding a specified limit. The penalty imposed under Section 271D for non-compliance was deemed reasonable to prevent tax evasion. The court rejected claims of hostile discrimination between borrowers and lenders, affirming the legislative competence to enact such provisions. Despite arguments of potential hardship, the court emphasized the availability of relief under Section 273B for genuine cases. The appeals were dismissed, confirming the validity of the provisions and allowing an appeal on the penalty within a specified timeframe. Case-Laws Income Tax Sat, 25 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14990