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ITAT, Bangalore: No Rationale in Making Additions to Income on Violation of RBI Notifications - (11 Apr 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal, Bangalore has observed that there is no rationale in the action of the Assessing Officer of making additions to income of assessee under Section 68 of the Income Tax Act,1961 on the ground that the assessee has violated the notifications of Reserve Bank of India.

Tags : INCOME TAX APPELLATE TRIBUNAL   RATIONALE   ASSESSING OFFICER   ASSESSE   SECTION 68 OF THE INCOME TAX ACT   1961   RESERVE BANK OF INDIA  

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