Case Law Details
Case Name : DCIT Vs Ankush Rao Ingle (ITAT Hyderabad)
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All ITAT ITAT Hyderabad
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CASE LAWS DETAILS
DECIDED BY: ITAT, HYDERABAD BENCH `B’, HYDERABAD,
IN THE CASE OF: DCIT Vs Ankush Rao Ingle, APPEAL NO: ITA Nos. 8 to 10/ Hyd/2010, DECIDED ON March 19, 2010
RELEVANT PARAGRAPH
5. We have heard and perused the material available on records.
Section 269SS was inserted by the Finance Act, 1984, w.e.f April 1, 1984 which lays down the mode of taking and accepting certain loans and deposits. Section 269SS reads as under:
“269SS Mode of taking or accepting certain loans and deposits:
No per shall after the 30th day of June, 1984 take or accept from any...
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I intend to get finance (appx. Rs.75000/=) of my vehicle from the private firm who is in the business of financing / HP of old/ new vehicles. Firm is insisting to release the loan amount by account payee cheque .
& similarly asking PDC for EMI payment .Sir, can I repay my monthly installment payments by cash instead by cheques? Please advice.