Case Law Details
Case Name : SulthanBathery Service Cooperative Bank Limited Vs JCIT (ITAT Cochin)
Related Assessment Year : 2015-16
Courts :
All ITAT ITAT Cochin
Become a Premium member to Download.
If you are already a Premium member, Login here to access.
Sponsored
SulthanBathery Service Cooperative Bank Limited Vs JCIT (ITAT Cochin)
ITAT Cochin held that imposition of penalty u/s. 271D and 271E of the Income Tax Act in consolidated manner is unjustified as AO has to point out each entry where such acceptance or repayment is Rs. 20,000/- or more.
Facts- The assessee is a Co-operative Bank. Issue involved, herein, is that penalty u/s. 271D and 271E of the Income Tax Act was imposed on the assessee.
The amount of cash deposited which was accepted by the assessee in the assessment year under consideration at Rs.1
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.