https://www.taxtmi.com/caselaws?id=365680 The Kerala High Court ruled in a case involving an appeal against a modified interim order under the Income Tax Act, 1961. The appellant, a cooperative bank, contested a conditional order to pay 20% of the demand under Section 68 of the Act due to unexplained cash credits. Despite concerns of black money laundering, the Court allowed the appellant to produce deposit details, mandating a 1% deposit of the tax addition within a month. The judgment disposed of the appeal without commenting on merits, permitting the First Appellate Authority to review independently. The Writ Petition was granted, with each party bearing their costs. en-us Thu, 02 Aug 2018 00:00:00 +0530 Wed, 22 Aug 2018 07:45:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365680 The Kerala High Court ruled in a case involving an appeal against a modified interim order under the Income Tax Act, 1961. The appellant, a cooperative bank, contested a conditional order to pay 20% of the demand under Section 68 of the Act due to unexplained cash credits. Despite concerns of black money laundering, the Court allowed the appellant to produce deposit details, mandating a 1% deposit of the tax addition within a month. The judgment disposed of the appeal without commenting on merits, permitting the First Appellate Authority to review independently. The Writ Petition was granted, with each party bearing their costs. Case-Laws Income Tax Thu, 02 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365680