Supreme Court remands Income Tax Matter for Determination of Purpose of Short Term FD Accounts, Nature Of Income [Read Judgement]

The Supreme Court overturned the impugned Order passed by the Delhi High Court in a Special Leave Petition filed before it
Supreme Court - Income Tax Matter - Determination of Purpose - FD Accounts Nature Of Income - TAXSCAN

The Supreme Court of India in a recent Appeal before it remanded an Income Tax matter back to the Assessing Officer (AO) while directing the AO to reconsider the nature of business conducted by the Assessee and the purpose for which the Short-Term Fixed Deposits (FD) had been opened by the Assessee. The Civil Appeal,…

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