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Where the assessee receives deposit of Rs.20,000/- or more as an agent, will the provisions of section 269SS apply?

April 26, 2017agent assessee deposit section

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Where the assessee receives deposit of Rs.20,000/- or more as an agent, will the provisions of section 269SS apply?

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If a person receives any deposit of Rs.20,000/- as an agent or servant and not on his own behalf, the provision of Sec 269SS does not apply (ACIT v Sahara Indai[2006] 100 ITD 93(Luck.)).