The relation between bank deposit with turnover, Income Tax

[TAPAN PAL]

Sir

In the assessment of a proprietary concern, The A.O determined turnover on the basis total bank deposit and the demand the tax. Though I submit my Cash Book and the A.O checked all bank transaction from bank statements and never found any shortfall in cash balance and the A.O did not reject also my books of accounts.

How shall i establish this before CIT(Appeal).

Thanks

Posts / Replies

[Ganeshan Kalyani]

Bank statement also forms a part of document to arrive at turnover. You can summarize your transaction with remarks as regard source of income and convince the CIT.