https://www.taxtmi.com/caselaws?id=57304 The Tribunal ruled in favor of the assessee, finding that the contributions from the wife and son were not loans but joint family efforts towards purchasing a house. It was determined that Section 269SS did not apply to these contributions, and the assessee had a reasonable belief, negating the penalty under Section 271D. As a result, the penalty was deleted, and the appeal was allowed. en-us Fri, 11 Oct 2002 00:00:00 +0530 Thu, 09 Dec 2010 14:36:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57304 The Tribunal ruled in favor of the assessee, finding that the contributions from the wife and son were not loans but joint family efforts towards purchasing a house. It was determined that Section 269SS did not apply to these contributions, and the assessee had a reasonable belief, negating the penalty under Section 271D. As a result, the penalty was deleted, and the appeal was allowed. Case-Laws Income Tax Fri, 11 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57304