Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty.

2-year ban on practicing CA as he was actively involved in business through companies and trust

Chartered Accountants Act: Where respondent was a practicing chartered accountant but was actively carrying on business through companies, trusts and firms, respondent was guilty of professional misconduct and his name was to be removed from Register of Members of the Institute of Chartered Accountants for a period of two years

Refer:[2017] 79 taxmann.com 9 (Delhi)

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