Linking RBI notification violation to Section 68 unjustified as nature & source explained: ITAT Ahmedabad

ITO Vs Shivoham Sagar Co-op. Credit Society Ltd (ITAT Ahmedabad)

ITAT Ahmedabad held that there is no basis for linking assessee’s alleged violation of RBI notification dated 8^th November 2016 to section 68 of the Income Tax Act, when the nature and source is explained.

Facts- The assessee is a regis

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