https://www.taxtmi.com/caselaws?id=470254 Section 269SS restricts acceptance of loans or deposits above the prescribed threshold except through specified banking modes, but does not itself authorise an addition to taxable income. Contravention is subject to the separate penalty regime under Section 271D. Treating a cash loan as unexplained while invoking Section 269SS is conceptually inconsistent, because Section 269SS applies where the loan is accepted as genuine. An income addition solely under Section 269SS therefore lacks legal authority and is liable to be deleted. 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 except through specified banking modes, but does not itself authorise an addition to taxable income. Contravention is subject to the separate penalty regime under Section 271D. Treating a cash loan as unexplained while invoking Section 269SS is conceptually inconsistent, because Section 269SS applies where the loan is accepted as genuine. An income addition solely under Section 269SS therefore lacks legal authority and is liable to be deleted. Case-Laws Income Tax Thu, 29 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470254