https://www.taxtmi.com/caselaws?id=471506 Cash repayment of an earlier trade advance may not attract Section 269SS where it is genuinely a refund of an advance originally paid through banking channels, rather than acceptance of a loan or deposit. Cash receipts recorded as reductions in loans and advances required verification against the relevant ledger accounts and audited financial statements before penalty under Section 271D could be determined. The appellate order was set aside, and the matter was remitted for verification of the supporting records and fresh adjudication on merits. en-us Tue, 08 Apr 2025 00:00:00 +0530 Mon, 07 Sep 2026 19:20:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471506 Cash repayment of an earlier trade advance may not attract Section 269SS where it is genuinely a refund of an advance originally paid through banking channels, rather than acceptance of a loan or deposit. Cash receipts recorded as reductions in loans and advances required verification against the relevant ledger accounts and audited financial statements before penalty under Section 271D could be determined. The appellate order was set aside, and the matter was remitted for verification of the supporting records and fresh adjudication on merits. Case-Laws Income Tax Tue, 08 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471506