269Ss

prasad (government employee) (225 Points)

12 December 2018

assessee is selling flats. can he receive cash advance for selling of flats. isn't it violation of 269 SS

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4 Replies

Mehul Bhanushali (CA in Practice) (174 Points)
Replied 12 December 2018

Yes he can't receive cash worth more than RS. 19,999 as advance against sale of flat

Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 12 December 2018

Originally posted by : prasad
	assessee is selling flats. can he receive cash advance for selling of flats. isn't it violation of 269 SS

yes

prasad (government employee) (225 Points)
Replied 12 December 2018

sir any case law is available

Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 12 December 2018

Its specified in act.

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