being a partner of the firm can he
invest the cash into the firm is it violation of 269ss. please clarify.
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cash investment
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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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