Penalty for Cash Loans from Relatives Not Applicable u/s 269SS; Exempt from Section 271D Penalties.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Levy of penalty u/s 271D - Cash loans from close relatives cannot be said to fall within the mischief of section 269SS of the Act, as near/close relatives cannot be said to be “other persons” within the meaning of section 269SS....