The assessee is an NRI. During the demonetization period, the assessee made cash deposits of Rs.6,00,000/- each in his bank account. The case was selected for scrutiny, and the AO questioned the source of these cash deposits.
Jammu Kashmir High Court held that Tribunal rightly set aside penalty under section 271(1)(c) as AO not clear whether it was case of concealment of particulars of income or failure to furnish correct particulars of income.
ITAT Ahmedabad held that revisionary jurisdiction under section 263 of the Income Tax Act cannot be invoked as AO exercised a plausible and legally valid view and revisionary jurisdiction cannot be invoked merely because PCIT holds a different view.
बार काउंसिल ऑफ इंडिया ने दिल्ली में 107 फर्जी वकीलों को हटाया। यह कार्रवाई वकीलों की साख की जांच और अधिनियमों के अनुपालन पर की गई है।
