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OFCDs are not loans or deposits u/s 269SS; no penalty u/s 271D applies.

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....Optionally Fully Convertible Debentures (OFCDs), whether a security or a loan & deposit – when the OFCDs do not fall under and cannot be equated with receipt of 'loan' or 'deposit' u/s 269SS, no violation of the said Section can be said to have been committed - No penalty u/s 271D - AT....

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