Sec 269ss applicable

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08 November 2020 Assess sec 44ada I.t. return filer.cash loan to old debtor outstanding opening balance as per books Rs:3 lacs.
Dt:10-08-2019 cash loan received from old debtor Rs:1,90,000/- through on cash mode.
Question:
Assess above transactions sec 269ss applicable in I.t. act and penalty paid compulsory.

08 November 2020 Yes, above transactions sec 269ss applicable in I.t. act and penalty paid compulsory.




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