Case Law: CIT vs. M/s Muthoot Financiers (Delhi High Court)

S. 269SS: Transaction of loan between a firm and its partner does not attract s. 269SS. If other High Courts have taken a consistent view, that should be followed even if opposite view is possible

Transaction effected between a firm and its partners cannot partake the colour of loan or deposit and as such, Section 269-SS nor Section 271-D of the Act would come into play

CIT vs. Muthoot Financiers (Delhi High Court)