Tribunal held that provision is applicable in case of adjustment of loan towards sale of flats. However payment of interest in cash provision is not applicable. (AY. 2012-13, 2014-2015)
Golla Narayana Rao v. ACIT (2019) 174 ITD 67 / 176 DTR 201/ 198 TTJ 407(Vishakha)(Trib.)
S. 269T : Repayment of loans and deposits-Otherwise than by account payee cheque or account payee bank draft–Provision is applicable in case of adjustment of loan towards sale of flats- Payment of interest in cash provision is not applicable. [S. 271E]