https://www.taxtmi.com/caselaws?id=385224 The Tribunal concluded that the transactions did not constitute loans or deposits under Section 269SS. Penalties under Section 271D were deemed unjustified as the same amount could not be treated as both income and a loan. The Tribunal directed deletion of penalties, allowing all appeals and rendering stay applications moot. en-us Wed, 28 Aug 2019 00:00:00 +0530 Fri, 30 Aug 2019 13:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385224 The Tribunal concluded that the transactions did not constitute loans or deposits under Section 269SS. Penalties under Section 271D were deemed unjustified as the same amount could not be treated as both income and a loan. The Tribunal directed deletion of penalties, allowing all appeals and rendering stay applications moot. Case-Laws Income Tax Wed, 28 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385224