Penalty u/s 271DA deleted for receiving cash above Rs. 2 lakhs from farmers against sale of tractors.  In a recent judgment, the ITAT Delhi has deleted penalty u/s 271DA holding that the assessee had bona fide reasons to receive cash over and above Rs. 2 lakhs from the …

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 …

Nainital Bank empanelment of chartered account firms for concurrent audit for FY 2025-26 Nainital Bank invites application for empanelment of chartered account firms for concurrent audit of bank branches and departments for FY 2025-26 An application money (non refundable) is payable of Rs. 1000/- which has to be …

Mere act of dishonor of cheques issued by a chartered accountant would not amount to misconduct – High Court In a recent judgment, the Hon’ble Delhi High Court held that mere act of dishonor of cheques issued by chartered accountant would not amount to misconduct. Whether dishonour of …

High Court incorrectly exercised writ jurisdiction to preclude statutory mechanism and procedure under IBC from taking its course –Supreme Court In a recent judgment, the Hon’ble Supreme Court set aside the order of the High Court and held that it incorrectly exercised writ jurisdiction as it precluded the …