Calcutta HC held that no penalty attracted under Section 269SS and 269TT of Income Tax Act on share application money or repayment
The Calcutta High Court held that no penalty attracted under Section 269SS and 269TT of the Income Tax Act, 1961 on share application money or repayment. The main controversy involved in the present appeal is as to whether share application money received by the respondent/assessee and its repayment in excess of Rs.20,000/- otherwise than by…
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