|
MR. X PAID IN CASH RS. 50.00 LACS. TO MR. Y. FOR PURCHASE OF THEIR 5 DUMPERS AS ADVANCE. DUE TO SOME PROBLEM FOR TRANSFER OF NAME THE AGREEMENT COULD NOT EXECUTE AND MR. Y RETURNED ALL MONEY WITHOUT INTEREST TO MR. X. BOTH THE FIRM WAS AUDITED CASE. I WANT TO KNOW THAT WHETHER THIS TRANSACTION ARE COVERED UNDER 269SS AND 269TT OR NOT AND ALSO WANT TO KNOW THAT WHAT IS THE CBDT CIRCULAR REGARDING THIS TRANSACTION. |
