ITO vs. M/s. Dayamayee Marble & Granite

Section 269SS

Reading Time: 2 minutes In the appeal no ITA 162/KOL/2017   ITO vs. M/s. Dayamayee Marble & Granite, the  Income Tax Appellate Tribunal (ITAT) Kolkata Bench, cancelling the penalty held that the capital contributed in Cash Transaction by the partner in the partnership firm does not tantamount to loan or deposit within the meaning of section 269SS of the Income Tax Act,
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