Proceedings u/s 148 of Income Tax Act to decide whether Unaccounted Transactions and Alleged Escaped Income shall be Exempt: Kerala HC [Read Order]
Question to be decided in proceedings u/s 148 of Income Tax Act is whether unaccounted transactions and alleged escaped income would merit exemption, rules Kerala HC
By Kalyani B. Nair - On February 20, 2024 8:33 pm - 2 mins read
In a significant ruling the Kerala High Court observed that the question to be decided in proceedings under Section 148 of the Income Tax Act, 1961 is whether unaccounted transactions and alleged escaped income would merit exemption. The Writ Petition was filed challenging order of the Income Tax Department under Section 148A(d) of the Income…
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