THE KARANNUR SERVICE CO-OP BANK LTD ,KOZHIKKODE vs. THE ITO, WD-1(2),, KOZHIKKODE

In the result, the appeals by the assessee are allowed

Bench: Shri Sanjay Arora & Shri Manomohan Das

275(1)(c) of the Act. That is, is predicated on the applicability of the said provision. The AO’s observations, per assessment order dated 06/11/2007, in that case, reproduced at para 8 of the judgement, read as under: "Since the assessee has violated the provisions of section 269SS and section 269T of the Income-tax Act by accepting