The appeal stands allowed
Bench: Hon’Ble Shri Satbeer Singh Godara, J.M & Hon’Ble Shri Manoj Kumar Aggarwal, A.M
House Property. Therefore, such receipts could neither be considered as deposit nor loan which call for imposition of penalty in terms of Sec.269SS. Further, the assessee was under bona fide belief that such receipts would not come within the purview of Sec.269SS. The case law of Hon’ble Punjab & Haryana High Court in CIT vs. Saini Medical Store