HomeDirect TaxDeclaring Inflated Stock to Bank for Higher Cash Credit Is ‘Commercial Immorality’:...

Declaring Inflated Stock to Bank for Higher Cash Credit Is ‘Commercial Immorality’: J&K and Ladakh High Court Upholds Income Tax Addition

Published on

🚀 Stay Connected With JurisHour

WhatsApp X Telegram

The Jammu & Kashmir and Ladakh High Court while upholding Income Tax Addition, held that declaring inflated stock to banks for securing higher credit facilities amounts to “commercial immorality” and cannot be accepted as a legitimate business practice.  The Bench of Bench comprising the Chief Justice and Justice Rajnesh Oswal has observed that the stock…

Membership Required

You must be a member to access this content.

View Membership Levels

Already a member? Log in here
Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

Latest articles

No Service Tax in Absence of Service Provider-Recipient Relationship: CESTAT

The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has...

Appeal Abates on Death of Sole Proprietor: CESTAT

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Chennai Regional Bench has held...

Customs Dept. Can’t Collect Evidence Behind Importer’s Back And Without Supplying Copies: CESTAT

The Delhi bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held...

No Cancellation of Charitable Registration Without ‘Specified Violation’: ITAT 

The Income Tax Appellate Tribunal (ITAT), Delhi Bench has set aside the order of...

More like this

No Service Tax in Absence of Service Provider-Recipient Relationship: CESTAT

The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has...

Appeal Abates on Death of Sole Proprietor: CESTAT

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Chennai Regional Bench has held...

Customs Dept. Can’t Collect Evidence Behind Importer’s Back And Without Supplying Copies: CESTAT

The Delhi bench of Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held...