Seized Cash in Election Triggers Income Tax Act; Court Denies Exemption Without Direct Election Connection.

Seized Cash in Election Triggers Income Tax Act; Court Denies Exemption Without Direct Election Connection. https://www.taxtmi.com/highlights?id=72932 Invocation of 153A & 153C - cash seized during assembly election - entitlement to exception u/rule 112F(ii) of the Income Tax Rules, 1962 - Unless, the cash that was seized was in connection with the assembly election, question of excluding the petitioners from the purview of proceeding under Section 147, 153A/153C of the Income Tax Act, 1961 cannot be countenanced. - HC en-us Mon, 06 Nov 2023 10:37:00 +0530 Mon, 06 Nov 2023 10:37:00 +0530 TaxTMI RSS Generator Seized Cash in Election Triggers Income Tax Act; Court Denies Exemption Without Direct Election Connection. https://www.taxtmi.com/highlights?id=72932 Invocation of 153A & 153C - cash seized during assembly election - entitlement to exception u/rule 112F(ii) of the Income Tax Rules, 1962 - Unless, the cash that was seized was in connection with the assembly election, question of excluding the petitioners from the purview of proceeding under Section 147, 153A/153C of the Income Tax Act, 1961 cannot be countenanced. - HC Highlights Income Tax Mon, 06 Nov 2023 10:37:00 +0530 https://www.taxtmi.com/highlights?id=72932