https://www.taxtmi.com/caselaws?id=16028 The court upheld the validity of sections 269SS and 271D of the Income-tax Act, 1961, stating they are reasonable restrictions to prevent tax evasion. The provisions aim to ensure genuine transactions and prevent fictitious entries, justifying the distinction between lenders and borrowers. The Gujarat High Court found the legislative classification rational and not discriminatory, dismissing the writ petitions challenging the sections' validity. The petitioner was granted the option to appeal within a specified period without limitation objections. en-us Fri, 25 Jun 1999 00:00:00 +0530 Mon, 31 Aug 2009 15:43:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16028 The court upheld the validity of sections 269SS and 271D of the Income-tax Act, 1961, stating they are reasonable restrictions to prevent tax evasion. The provisions aim to ensure genuine transactions and prevent fictitious entries, justifying the distinction between lenders and borrowers. The Gujarat High Court found the legislative classification rational and not discriminatory, dismissing the writ petitions challenging the sections' validity. The petitioner was granted the option to appeal within a specified period without limitation objections. Case-Laws Income Tax Fri, 25 Jun 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16028