Partner capital introduce not deemed as loan invoke 269SS
CAPITAL INTRODUCED BY PARTNERS IN THE FIRM COULDN’T BE DEEMED AS LOAN TO INVOKE PROVISIONS OF SEC. 269SS Section 269SS, read with section 271D, of the Income-tax Act, 1961 – Deposits – Mode of taking/accepting (Amount Contributed by partners of firm) Provisions of section 269SS would not be violated when money is exchanged inter-se between …