Addition u/s. 68 - cash received by assessee (co-operative ...

Income Tax

July 6, 2023

Addition u/s. 68 - cash received by assessee (co-operative society) from its members during the demonetisation period in Specified Bank Notes - Not every deposit during the demonetisation period would fall under category of unaccounted cash. The burden is on the assessee to establish the genuineness of the deposit in order to fall outside the scope of unaccounted cash. - Matter restored back to AO for fresh consideration - AT

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Addition u/s. 68 - cash received by assessee (co-operative ...

Income Tax

July 6, 2023

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