https://www.taxtmi.com/caselaws?id=467631 Section 269SS applies only to loans or deposits and does not extend to cash receipt of sale consideration for transfer of immovable property. Where the amount was received as sale consideration in cash, the basis for penalty under section 271D was absent because the transaction was not a loan or deposit. The authorities had therefore misapplied the provision in sustaining the penalty, and the penalty was deleted. en-us Mon, 08 Jan 2024 00:00:00 +0530 Fri, 27 Mar 2026 18:51:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467631 Section 269SS applies only to loans or deposits and does not extend to cash receipt of sale consideration for transfer of immovable property. Where the amount was received as sale consideration in cash, the basis for penalty under section 271D was absent because the transaction was not a loan or deposit. The authorities had therefore misapplied the provision in sustaining the penalty, and the penalty was deleted. Case-Laws Income Tax Mon, 08 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467631