https://www.taxtmi.com/caselaws?id=306380 The Tribunal held that transactions between closely related persons, like husband and wife, do not violate section 269T of the Income Tax Act. It was determined that loans between closely related individuals with a personal relationship do not fall under the purview of section 269T, which deals with commercial transactions. As a result, the penalty imposed under section 271E for cash transactions of loans between the appellant and his wife was removed, allowing the appeal in favor of the appellant. en-us Wed, 30 Aug 2017 00:00:00 +0530 Tue, 24 Jan 2023 21:23:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306380 The Tribunal held that transactions between closely related persons, like husband and wife, do not violate section 269T of the Income Tax Act. It was determined that loans between closely related individuals with a personal relationship do not fall under the purview of section 269T, which deals with commercial transactions. As a result, the penalty imposed under section 271E for cash transactions of loans between the appellant and his wife was removed, allowing the appeal in favor of the appellant. Case-Laws Income Tax Wed, 30 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306380