Saturday, October 3, 2020

SLP granted against ruling deleting Sec. 271D penalty as depositors were from rural area having no banking facilities

INCOME TAX : SLP against High Court's decision holding that where assessee-company availed cash deposits from depositors in rural areas, in view of non-availability of adequate banking facilities, section 271D penalty need not be imposed, was to be granted

from www.taxmann.com Latest Case Laws https://ift.tt/3jpHNtm

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...