https://www.taxtmi.com/caselaws?id=427303 The ITAT allowed the appeal for statistical purposes, emphasizing the importance of determining the true nature of the transaction and the necessity of maintaining books of accounts for imposing penalties under the Income Tax Act. The matter was remanded to the Assessing Officer for further investigation and decision-making based on the specifics of the case. en-us Wed, 31 Aug 2022 00:00:00 +0530 Mon, 05 Sep 2022 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427303 The ITAT allowed the appeal for statistical purposes, emphasizing the importance of determining the true nature of the transaction and the necessity of maintaining books of accounts for imposing penalties under the Income Tax Act. The matter was remanded to the Assessing Officer for further investigation and decision-making based on the specifics of the case. Case-Laws Income Tax Wed, 31 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427303