https://www.taxtmi.com/caselaws?id=56415 The Tribunal held that the book adjustments from the goods purchase account to the Sarafi account did not constitute loans or deposits involving the transfer of money as required by Section 269SS of the IT Act. Consequently, the penalty under Section 271D was unjustified. The appeal was allowed, and the penalty order was reversed. en-us Thu, 30 Nov 1995 00:00:00 +0530 Fri, 03 Dec 2010 15:19:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56415 The Tribunal held that the book adjustments from the goods purchase account to the Sarafi account did not constitute loans or deposits involving the transfer of money as required by Section 269SS of the IT Act. Consequently, the penalty under Section 271D was unjustified. The appeal was allowed, and the penalty order was reversed. Case-Laws Income Tax Thu, 30 Nov 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56415