Assessee is engaged in jewellery business. It has taken metal deposits i.e., gold or silver in physical form followed by corresponding journal entries made in the books of account terming them as unsecured loans. The AO levied penalty u/s 271D of the Act. on appeal the CIT(A) deleted the penalty. On appeal by Revenue  the Tribunal held that  provisions of S. 269SS is not  attracted by accepting the precious metal commodities in physical form. As per Expln. (iii) to 269SS, loan or deposit for the purpose of this section means loans or deposits of money.  Accepted loans/deposit of metal which did neither fall in category (1) i.e., loans or deposits of money nor in category (2) specified sum. As the transaction is  outside the ambit of provisions of S. 269SS. Penalty under s. 271D is not attracted. Appeal of Revenue is dismissed.  (AY.2013-14)