Allahabad High Court : Deceased Farmer’s Odd Jobs Don’t Bar Family from Scheme Benefits  ||  Secured Creditors' Dues Take Priority Over Govt Claims: Allahabad HC on SARFAESI & RDB Acts  ||  Daughter Can’t Claim Mitakshara Father’s Property if He Died Pre-1956 & Son Survives: HC  ||  Gujarat High Court: Sessions Court Can’t Suspend Sentence Just to Allow Revision Filing  ||  Delhi High Court: Non-Combat Security Roles Crucial; Minor Lapse Risks National Safety  ||  Punjab & Haryana HC: Allegation of Harassment Alone Insufficient to Prove Abetment to Suicide  ||  Orissa HC: Directors Liable under S.138 NI Act Despite Company’s Insolvency  ||  Bombay HC: GST Return Details of Company Exempt from Disclosure under RTI Act  ||  Chhattisgarh HC: Timely Appointment of Electronic Evidence Examiners Vital in Cyber Crime Probes  ||  Bombay HC: GST Return Details of Company Exempt from Disclosure under RTI Act    

SC: If Suits Mention Cash Transactions Above ?2 Lakh, Court Must Report it to IT Department - (17 Apr 2025)

DIRECT TAXATION

SC has observed that whenever, a suit is filed with a claim that Rs. 2,00,000 and above is paid by cash towards any transaction, courts must intimate the same to the jurisdictional Income Tax Department to verify the transaction and the violation of Section 269ST of the Income Tax Act, 1961, if any.

Tags : SUPREME COURT   CASH TRANSACTIONS   IT DEPARTMENT  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved