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Advances for Share Allotment Not Classified as Loans; No Penalties u/ss 271D and 271E of IT Act.

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....Sec. 269SS and 269T - there is bonafide belief to the effect that the receipt of advances against allotment of shares and repayment of share money would not be termed as loans or deposits - no penalty u/s 271D and 271E- AT....

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