https://www.taxtmi.com/caselaws?id=472053 Cash payments to group concerns against purchases recorded in a running account or against debit balances arising from sales do not constitute repayment of a loan or deposit for Section 269T purposes. A payment that did repay a loan through a running business account nevertheless fell outside the pre-amendment provision, which applied only to deposits; loans became covered from 1 June 2002. Section 269T was therefore not contravened, and penalty under Section 271E was not sustainable. en-us Wed, 16 Apr 2025 00:00:00 +0530 Mon, 28 Sep 2026 20:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472053 Cash payments to group concerns against purchases recorded in a running account or against debit balances arising from sales do not constitute repayment of a loan or deposit for Section 269T purposes. A payment that did repay a loan through a running business account nevertheless fell outside the pre-amendment provision, which applied only to deposits; loans became covered from 1 June 2002. Section 269T was therefore not contravened, and penalty under Section 271E was not sustainable. Case-Laws Income Tax Wed, 16 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472053