Court Rules Share Application Money in Cash Not a Deposit; Section 269SS Restrictions and Section 271D Penalties Inapplicable.
X X X X Extracts X X X X
X X X X Extracts X X X X
....Whether share application money received in cash is in the nature of deposit - rigours of Section 269SS of the Income Tax Act cannot be applied, penalty could not be levied under Section 271D - HC....
TaxTMI