| COURT: | Delhi High Court |
| CORAM: | Sanjiv Khanna J, V. Kameswar Rao J |
| SECTION(S): | 269SS, 271D |
| GENRE: | Domestic Tax |
| CATCH WORDS: | loan or deposit of money, Partnership |
| COUNSEL: | Rajat Navei |
| DATE: | February 3, 2015 (Date of pronouncement) |
| DATE: | February 9, 2015 (Date of publication) |
| AY: | 1996-97 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| S. 269SS: Transaction of loan between a firm and its partner does not attract s. 269SS. If other High Courts have taken a consistent view, that should be followed even if opposite view is possible | |
Transaction effected between a firm and its partners cannot partake the colour of loan or deposit and as such, Section 269-SS nor Section 271-D of the Act would come into play
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