Day: February 23, 2025

Bank can’t freeze account of company because director of company was facing a matrimonial dispute with his wife – High Court In a recent judgment, the Hon’ble Allahabad High Court has directed bank to allow the petitioner company to operate its current account which was freezed by it because …

Penalty u/s 271E deleted for repayment in cash unsecured loan taken from founder director to meet expenses when bona-fide of transaction was not disputed. In a recent judgment, the ITAT Rajkot has deleted penalty u/s 271E of the Income Tax Act, 1961 (the Act) because due to bank …