https://www.taxtmi.com/caselaws?id=470254 Section 269SS restricts acceptance of loans or deposits above the prescribed threshold otherwise than through specified banking modes, but does not authorise an addition to taxable income. Its contravention attracts a separate penalty under Section 271D. Treating a loan as unexplained while invoking Section 269SS is conceptually inconsistent, because that provision applies where the cash loan is accepted as genuine. The article states that the income addition purportedly made under Section 269SS lacked legal authority and was quashed. en-us Thu, 29 Aug 2024 00:00:00 +0530 Tue, 21 Jul 2026 19:10:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470254 Section 269SS restricts acceptance of loans or deposits above the prescribed threshold otherwise than through specified banking modes, but does not authorise an addition to taxable income. Its contravention attracts a separate penalty under Section 271D. Treating a loan as unexplained while invoking Section 269SS is conceptually inconsistent, because that provision applies where the cash loan is accepted as genuine. The article states that the income addition purportedly made under Section 269SS lacked legal authority and was quashed. Case-Laws Income Tax Thu, 29 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470254