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Section 269SS/ 269T not applies to book entries not involving cash transactions
Case Law Details
- Case Name
- The Commissioner of Income Tax Vs M/S Saurabh Enterprises (Allahabad High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 1994-95
- Courts
- All High Courts, Allahabad High Court
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In the instant case, the transaction in question, was not cash transaction. It was merely book entries. The CIT(A) has called Remand Record from the AO, who vide report dated 05.01.1999, confirmed that the transaction in question, by mentioning that no cash was involved. There was only adjustment entries. When that it so, then there is no violation of Section 269SS/269T of the Act. No addition is made in quantum appeal.
(Allahabad High Court)
INCOME TAX APPEAL No. – 242 of 2005 [Assessment Year – 1994-95]
Appellant :- The Commissioner Of Income Tax Respondent :- M/S Saurabh Enterpr...
