banner_ad

section 269 SS

This query is : Resolved 
Profile Image

Profile Image

(Querist)
09 December 2010 Where the assesse have received some amount towards land advance and was not in obligation to return the advance money received, whether the provision of section 269(ss) is applicable or not. Kindly clarify and if there is any case law in par pls refer.

Thank you.
Profile Image

Sunali

Profile Image

Sunali (Expert)
09 December 2010 Hi Vinay,

In my opinion, if the assessee is other than a company, the provisions of section 269SS won't apply in the given case. Since,

The Direct Tax Laws (Amendment) Act, 1987 has amended the definition of “deposit” for the purpose of section 269T of the Income-tax Act.

Under the amended definition, the said term has been defined to mean

“any deposit of money which is repayable after notice or repayable after a period and, in case of a person other than a company, includes deposit of any nature”.
Profile Image

vinay simha

Profile Image

vinay simha (Querist)
09 December 2010 Thank you sir.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
25 April 2026
Tax Executive/Manager

BDMV & Co, Chartered Accountants

Mumbai

CA Final

View Details
Company
ARTICLESHIP 05 May 2026
ARTICLED ASSISTANT

JS ADVISORS

New Delhi

CA Inter

View Details