Cash Loan between Agriculturists will not attract S. 269SS of Income Tax Act: ITAT deletes Penalty [Read Order]

Cash Loan - Agriculturists - Income Tax Act - ITAT - Penalty - taxscan

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the cash loan between agriculturalists will not attract the provisions of section 269SS of the Income Tax Act, 1961 and therefore, penalty cannot be imposed. The assesse, Mr. Raman Chaudhary is an agriculturist. For purchasing some agricultural land jointly, the assessee has availed cash…

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