HC directs Appellate Authority to review appeal without pre-deposit

Anamallais Bus Transports P Ltd Vs PCIT (Madras High Court) Introduction: The Madras High Court, in the matter of Anamallais Bus Transports P Ltd vs. PCIT, has issued a directive challenging the penalty proceedings under Section 271-E of the Income Tax Act. The court’s preliminary view suggests a lack of cash transactions, prompting a reevaluation by the Appellate Authority. This writ petition challenges the order dated 09.10.2023, asserting that the petitioner, Anamallais Bus Transports P Ltd, faced unjust penalty proceedings. The company had extended a sum of Rs.14,00,00,000/- to M/s. ...