https://www.taxtmi.com/caselaws?id=469510 Cash refund of an advance earlier paid for a cancelled property transaction was not treated as a loan, deposit, or specified sum under section 269SS of the Income-tax Act. The refund represented repayment of the assessee's own advance and not acceptance of loan or deposit, nor money received as an advance or otherwise in relation to transfer of immovable property. As section 269SS did not apply, penalty under section 271D could not be sustained. The later insertion of section 269ST was noted as a separate anti-cash-receipt provision, but it did not govern this transaction. en-us Fri, 07 Mar 2025 00:00:00 +0530 Fri, 19 Jun 2026 19:55:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469510 Cash refund of an advance earlier paid for a cancelled property transaction was not treated as a loan, deposit, or specified sum under section 269SS of the Income-tax Act. The refund represented repayment of the assessee's own advance and not acceptance of loan or deposit, nor money received as an advance or otherwise in relation to transfer of immovable property. As section 269SS did not apply, penalty under section 271D could not be sustained. The later insertion of section 269ST was noted as a separate anti-cash-receipt provision, but it did not govern this transaction. Case-Laws Income Tax Fri, 07 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469510