๐— ๐˜‚๐—บ๐—ฏ๐—ฎ๐—ถ ๐—œ๐—ง๐—”๐—ง: ๐—ฆ๐—พ๐˜‚๐—ฎ๐—ฟ๐—ถ๐—ป๐—ด ๐—ผ๐—ณ๐—ณ ๐—น๐—ผ๐—ฎ๐—ป ๐˜๐—ฟ๐—ฎ๐—ป๐˜€๐—ฎ๐—ฐ๐˜๐—ถ๐—ผ๐—ป ๐—ฑ๐—ผ๐—ฒ๐˜€ ๐—ป๐—ผ๐˜ ๐—ถ๐—ป๐˜ƒ๐—ถ๐˜๐—ฒ ๐—ฝ๐—ฒ๐—ป๐—ฎ๐—น๐˜๐˜† ๐˜‚๐—ป๐—ฑ๐—ฒ๐—ฟ ๐—ฆ.๐Ÿฎ๐Ÿณ๐Ÿญ๐—— / ๐Ÿฎ๐Ÿณ๐Ÿญ๐—˜

S.269SS and S.269T mandate that transactions in the nature of acceptance/repayment of loan/ deposit etc should be done through account payee cheque or account payee bank draft or use of electronic clearing system through a bank account. Non-adherence of provisions of S.269SS or S.269T invites penalty u/s 271D & E, respectively. However, S.273B provides a safe harbor if such default is because of a reasonable cause.

In its recent judgment Mumbai ITAT has observed, ๐˜„๐—ต๐—ฒ๐—ฟ๐—ฒ๐—ถ๐—ป ๐—น๐—ผ๐—ฎ๐—ป ๐˜๐—ฟ๐—ฎ๐—ป๐˜€๐—ฎ๐—ฐ๐˜๐—ถ๐—ผ๐—ป๐˜€ ๐—ฎ๐—ฟ๐—ฒ ๐˜€๐—พ๐˜‚๐—ฎ๐—ฟ๐—ฒ๐—ฑ ๐—ผ๐—ณ๐—ณ ๐—ฏ๐˜† ๐—ท๐—ผ๐˜‚๐—ฟ๐—ป๐—ฎ๐—น ๐—ฒ๐—ป๐˜๐—ฟ๐—ถ๐—ฒ๐˜€ ๐—ถ๐—ป ๐—ฎ ๐—ฏ๐—ฎ๐—ฐ๐—ธ๐—ฑ๐—ฟ๐—ผ๐—ฝ ๐—ผ๐—ณ ๐—ด๐—ฒ๐—ป๐˜‚๐—ถ๐—ป๐—ฒ ๐—ฏ๐˜‚๐˜€๐—ถ๐—ป๐—ฒ๐˜€๐˜€ ๐˜๐—ฟ๐—ฎ๐—ป๐˜€๐—ฎ๐—ฐ๐˜๐—ถ๐—ผ๐—ป๐˜€, ๐—ถ๐˜ ๐˜„๐—ผ๐˜‚๐—น๐—ฑ ๐—ฏ๐—ฒ ๐˜€๐—ฎ๐—ณ๐—ฒ ๐˜๐—ผ ๐—ฐ๐—ผ๐—ป๐—ฐ๐—น๐˜‚๐—ฑ๐—ฒ ๐˜๐—ต๐—ฎ๐˜ ๐˜๐—ต๐—ฒ๐˜€๐—ฒ ๐—ฒ๐—ป๐˜๐—ฟ๐—ถ๐—ฒ๐˜€ ๐˜„๐—ฒ๐—ฟ๐—ฒ ๐—ฝ๐—ฎ๐˜€๐˜€๐—ฒ๐—ฑ ๐—ผ๐˜‚๐˜ ๐—ผ๐—ณ ๐—ฏ๐˜‚๐˜€๐—ถ๐—ป๐—ฒ๐˜€๐˜€ ๐—ฐ๐—ผ๐—ป๐˜€๐˜๐—ฟ๐—ฎ๐—ถ๐—ป๐˜๐˜€, ๐—ฒ๐˜…๐—ถ๐—ด๐—ฒ๐—ป๐—ฐ๐—ถ๐—ฒ๐˜€ ๐—ฎ๐—ป๐—ฑ ๐—ฎ๐—ฑ๐—บ๐—ถ๐—ป๐—ถ๐˜€๐˜๐—ฟ๐—ฎ๐˜๐—ถ๐˜ƒ๐—ฒ ๐—ฐ๐—ผ๐—ป๐˜ƒ๐—ฒ๐—ป๐—ถ๐—ฒ๐—ป๐—ฐ๐—ฒ. Such business constraints, exigencies, and administrative convenience ๐˜„๐—ผ๐˜‚๐—น๐—ฑ ๐—ฐ๐—ผ๐—ป๐˜€๐˜๐—ถ๐˜๐˜‚๐˜๐—ฒ ๐—ฟ๐—ฒ๐—ฎ๐˜€๐—ผ๐—ป๐—ฎ๐—ฏ๐—น๐—ฒ ๐—ฐ๐—ฎ๐˜‚๐˜€๐—ฒ ๐˜„๐—ถ๐˜๐—ต๐—ถ๐—ป ๐˜๐—ต๐—ฒ ๐—บ๐—ฒ๐—ฎ๐—ป๐—ถ๐—ป๐—ด ๐—ผ๐—ณ ๐—ฆ.๐Ÿฎ๐Ÿณ๐Ÿฏ๐—• ๐—ผ๐—ณ ๐˜๐—ต๐—ฒ ๐—”๐—ฐ๐˜ ๐—ฎ๐—ป๐—ฑ ๐—ฝ๐—ฒ๐—ป๐—ฎ๐—น๐˜๐˜† ๐˜„๐—ผ๐˜‚๐—น๐—ฑ ๐—ป๐—ผ๐˜ ๐—ฏ๐—ฒ ๐—ฎ๐—ฝ๐—ฝ๐—น๐—ถ๐—ฐ๐—ฎ๐—ฏ๐—น๐—ฒ ๐—ถ๐—ป ๐˜€๐—พ๐˜‚๐—ฎ๐—ฟ๐—ถ๐—ป๐—ด ๐—ผ๐—ณ ๐˜๐—ฟ๐—ฎ๐—ป๐˜€๐—ฎ๐—ฐ๐˜๐—ถ๐—ผ๐—ป๐˜€.

[ ๐— /๐˜€. ๐— ๐—ฎ๐—ฐ๐—ฟ๐—ผ๐˜๐—ฒ๐—ฐ๐—ต ๐——๐—ฒ๐˜ƒ๐—ฒ๐—น๐—ผ๐—ฝ๐—ฒ๐—ฟ๐˜€ ๐—Ÿ๐˜๐—ฑ., ๐—œ๐—ง๐—” ๐—ก๐—ผ.๐Ÿฏ๐Ÿฌ๐Ÿฐ๐Ÿต & ๐Ÿฐ๐Ÿฌ๐Ÿฑ๐Ÿฐ /๐— ๐˜‚๐—บ/๐Ÿฎ๐Ÿฌ๐Ÿญ๐Ÿต]

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