Share application money and repayment thereof do not violate Sections 269SS & 269T

Addl. CIT Vs. J.A. Land & Housing Development India Limited (ITAT Kolkata)- Assessing Officer levied penalty under section 271D for the assessment year 2004-05 in respect of M/s. J.A. Land & Housing Dev. India Limited and also in assessment years 2005-06 & 2006-07, as well as under section 271E of the Income Tax Act for the assessment year 2007-08 in the case of M/s. J.A.M. Chemical Works Limited. Assessing Officer was of the view that violation of Section 269SS which defines ‘loan or deposit’ & Section 269T

Please become a Premium member. If you are already a Premium member, login here to access the full content.