https://www.taxtmi.com/caselaws?id=276278 The Kerala High Court, in a case involving two Co-operative Banks appealing against a judgment modifying an interim order under the Income Tax Act, 1961, addressed the imposition of payment conditions and verification of depositors' genuineness. The Court granted the Banks an opportunity to produce deposit details by submitting an affidavit and depositing 1% of the tax addition made within a specified timeframe. The judgment disposed of the Writ Appeals, allowed the Writ Petition, and directed the First Appellate Authority to consider the appeal independently. The decision aimed to balance the interests of the Banks and ensure compliance with tax regulations under Section 68 of the Act. en-us Mon, 23 Jul 2018 00:00:00 +0530 Sun, 04 Nov 2018 20:30:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276278 The Kerala High Court, in a case involving two Co-operative Banks appealing against a judgment modifying an interim order under the Income Tax Act, 1961, addressed the imposition of payment conditions and verification of depositors' genuineness. The Court granted the Banks an opportunity to produce deposit details by submitting an affidavit and depositing 1% of the tax addition made within a specified timeframe. The judgment disposed of the Writ Appeals, allowed the Writ Petition, and directed the First Appellate Authority to consider the appeal independently. The decision aimed to balance the interests of the Banks and ensure compliance with tax regulations under Section 68 of the Act. Case-Laws Income Tax Mon, 23 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276278