https://www.taxtmi.com/caselaws?id=281192 The court held that although section 269SS applies to transactions between spouses, in this case, the funds transferred for house construction were part of a joint family venture and not a commercial loan, falling outside the legislation's scope. Due to mitigating circumstances and the lack of intent to violate the law, the penalty under section 271D was deleted under section 273B. en-us Tue, 10 Mar 1998 00:00:00 +0530 Fri, 17 Jul 2026 18:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281192 The court held that although section 269SS applies to transactions between spouses, in this case, the funds transferred for house construction were part of a joint family venture and not a commercial loan, falling outside the legislation's scope. Due to mitigating circumstances and the lack of intent to violate the law, the penalty under section 271D was deleted under section 273B. Case-Laws Income Tax Tue, 10 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281192