https://www.taxtmi.com/caselaws?id=310533 The court dismissed the appeal, upholding the trial court's decision in favor of the plaintiff. It ruled that the defendant could not invoke Section 269-SS of the Income Tax Act to avoid repaying Rs. 50,000, as the section's aim is to prevent tax evasion, not to invalidate transactions. The court emphasized the necessity for the defendant to return the amount received, as the transaction was not illegal. The plaintiff was entitled to recover the sum based on principles of equity and the prevention of unjust enrichment under Section 70 of the Contract Act. en-us Fri, 20 Jul 2001 00:00:00 +0530 Mon, 30 Oct 2023 13:25:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310533 The court dismissed the appeal, upholding the trial court's decision in favor of the plaintiff. It ruled that the defendant could not invoke Section 269-SS of the Income Tax Act to avoid repaying Rs. 50,000, as the section's aim is to prevent tax evasion, not to invalidate transactions. The court emphasized the necessity for the defendant to return the amount received, as the transaction was not illegal. The plaintiff was entitled to recover the sum based on principles of equity and the prevention of unjust enrichment under Section 70 of the Contract Act. Case-Laws Income Tax Fri, 20 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310533