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1 - 10 of 16 (0.64 seconds)Section 269T in The Income Tax Act, 1961 [Entire Act]
Section 271D in The Income Tax Act, 1961 [Entire Act]
Section 271E in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
Asstt. Director Of Inspection ... vs Kum. A.B. Shanthi on 3 May, 2002
Director of Inspection (Investigation)
v. Kum. A.B. Shanthi [2002] 255 ITR 258 held that if there was a
genuine and bona fide transaction and the assessee could not get a
loan or deposit by account payee cheque or demand draft for some
bona fide reason, the authority vested with the power to impose
penalty has a discretion not to levy penalty.
The Commissioner Of Income Tax vs M/S.Idhayam Publications Limited on 23 January, 2006
Decision of Madras High Court in case of CIT vs. Idhayam
Publications Limited (285 ITR 221) according to which provisions of
sections 269SS and 269T are not applicable to current accounts.
Dr. Deepak Muchala vs Income Tax Officer on 26 February, 1996
Decision of Mumbai Bench of ITAT in case of Dr. Deepak Muchhala
vs. ITO (58 TTJ 524) also supports the case in hand.
Commissioner Of Income-Tax vs Noida Toll Bridge Co. Ltd. on 28 January, 2003
As regards amount
stated to have accepted through journal entries ,there is no
violation of provisions of sec. 269SS of the Act as held by the
Hon'ble Delhi High Court in the case of CIT vs. Noida Toll Bridge
Co. Ltd.,262 ITR 260.