Section 269SS not applies to Cash Loan between Agriculturists not having income chargeable to tax

Raman Chaudhary Vs ACIT (ITAT Delhi) It is evident, the assesse is an agriculturist. For purchasing some agricultural land jointly, the assessee had availed cash loan from other agriculturists. It is a fact on record that the genuineness of the loan availed by the assessee has been accepted by the departmental authorities. Of course, there is no denial of the fact that the assesse has availed the loan in cash. The issue arising for consideration is, whether there is violation of section 269SS of the Act while availing cash loan. On a reading of second proviso to section 269SS of the Act, it is...