Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
S. 68 Of Income Tax Act Not Attracted When There Is No Unexplained Amount In Bank Statement: Gujarat High Court
Income Tax
The Gujarat High Court ruled that Section 68 of the Income Tax Act is not applicable when no unexplained amount is found in the bank statement. The court observed that the assessee did not retain the alleged unaccounted amount, and thus, there was no income escapement. The reassessment notice was deemed unsustainable.
