Answers On Topic: section 269SS
this question to all senior advocates 138ni act this act only favor complaint for example. if a innocent person (or) daily worker(or)small business man take 50 thousand loan from moneylender for bussiness purpose a innocent person issued a blank signed cheque and pronote after money recover by cash because (small amount) then cunning money lender fills pronote and cheque present bank cheque dishonor 50lakhs.money lender sents legal notice the innocent person reply iam not taking 50lakhs iam taking 50thousand the court issued summons to innocent accused start trail the money lender and witness tells he takes the money . then…
► Read Answer
whether RTGS payments/repayments for the years prior to amendments of 269SS/269T is allowed as it is retrospective ?
► Read Answer
Assessee is partnership engaged in the business of real estate developers. Survey U/sec. 133A has been conducted , where a incriminating statement giving particulars of sale of flats , name of person , agreement value and cash accepted was recorded. Partner who was not looking after accounts had accepted the amount stated in coloum cash is extra consideration received. The amount for each unit is more than 2 lakhs. At the time of assessment the said partner had retracted from the statement. However AO made this cash as undisclosed income. Assessee later on received Notice u/Sec.269SS on the ground that…
► Read Answer
whether cash received on sale of rural agricultural land attract provisions of sec. 269SS? as it is neither loan nor deposit nor any advance as mentioned in specified sum.. I think correct application would have been of Sec. 269ST, however assessee got notice u/s 269SS. Couldnt find any proper judgment on this aspect. If anyone here can throw some light, it would be great!
► Read Answer
judiciary system