Bombay High Court Dismisses Revenue's Appeal in Income Tax Penalty Case. Journal Entry Set-off for Loan Repayment Does Not Violate Section 269T of Income Tax Act, 1961, as It Is Not a Repayment but an Adjustment of Mutual Claims.
12 Jun 2012The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which deleted the penalty ...
