cash transactions
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Calcutta High Court Stays Income Tax Penalty Orders for Alleged Cash Transaction Violations, Holding “No Penalty Can Be Levied Without Prior Satisfaction of Assessing Officer Recorded in Assessment Orders” While Considering Prima Facie Illegality in Absence of Statutory Compliance

Court’s Decision The Calcutta High Court granted an interim stay on penalty orders issued under Sections 271D, 271DA, and 271E of the Income Tax Act, 1961 against the petitioners, observing…
June 29, 2025
non enforcement of mediated settlement
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Calcutta High Court Refuses to Enforce Mediated Settlement as Arbitral Award Under Arbitration Act, Finding Lack of Finality and Active Disputes: “The Settlement Document Did Not Reflect Concluded Agreement, Parties Must Proceed with Arbitration”

Court’s Decision: The Calcutta High Court dismissed the execution petition filed under Section 36 of the Arbitration and Conciliation Act, 1996, seeking enforcement of a mediated settlement agreement dated 10…
June 24, 2025