https://www.taxtmi.com/caselaws?id=422162 The High Court heard arguments regarding undisclosed transactions with the Social Co-operative Bank Ltd. for the Assessment Year 2018-19. The court requested clarification on whether all transactions were solely with that bank and directed the Revenue to provide information. The case was adjourned for further proceedings on 02.05.2022, with instructions for the Senior Counsel to report back. The court emphasized the need for disclosure of transactions in the return of income, focusing on profit and loss accounts rather than bank details. en-us Tue, 26 Apr 2022 00:00:00 +0530 Wed, 11 May 2022 08:32:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422162 The High Court heard arguments regarding undisclosed transactions with the Social Co-operative Bank Ltd. for the Assessment Year 2018-19. The court requested clarification on whether all transactions were solely with that bank and directed the Revenue to provide information. The case was adjourned for further proceedings on 02.05.2022, with instructions for the Senior Counsel to report back. The court emphasized the need for disclosure of transactions in the return of income, focusing on profit and loss accounts rather than bank details. Case-Laws Income Tax Tue, 26 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422162