being a partner of the firm can he
invest the cash into the firm is it violation of 269ss. please clarify.
The Delhi High Court in the case of Commissioner of Income Tax vs. M/s Muthoot Financiers on 3rd February, 2015 passed the judgment to the above effect.
The High Court held that a transaction between a firm and its partners cannot take the color of a loan transaction or that of a deposit and as such, Section 269SS or Section 271D of the Act is not applicable to such situations.
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