Day: June 7, 2024

Merely because word “provision” is used it cannot be said that the same is a provision – ITAT In a recent judgment, the ITAT Cuttack has held that merely because word “provision” is used while making the entry in the books of accounts, it cannot be said that …

Affidavits, if credible and corroborated by other evidences, can be sufficient to explain the source of cash deposits -ITAT In a recent judgment, the Hon’ble Ahmedabad ITAT has held that affidavits, if credible and corroborated by other evidences, can be sufficient to explain the source of cash deposits. …

Show cause notice for penalty u/s 270A not specifying limb i.e. mis-reporting or under-reporting was bad in law – High Court In a recent judgment, the Hon’ble Delhi High Court has held that show cause notice for penalty u/s 270A not specifying limb i.e. mis-reporting or under-reporting was …