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]

New Portal By CBIC โ€“ Information Portal

CBIC Launches Separate Portal For All Information Related To GST, Customs, Service Tax, etc.

CBIC has launched a revamped *tax information portal* through which all indirect tax legislations, rules, regulations, and forms will be available for ease of reference of taxpayers. The content on this portal will be continuously updated and expanded in a phased manner. Eventually, information under all categories in Customs, GST, Central Excise and erstwhile Service Tax will be available under one portal. Through this portal, you can search for information related to all indirect tax laws, their rules/ forms/ regulations. We can visit the portal at https://taxinformation.cbic.gov.in In case any user comes across any anomaly or error in content, it has been requested to notify the same on feedback.taxinfo@icegate.gov.in This will improve the validity of the contents and user experience.

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