TMI BlogVerification check list for assistance of AOs for OCM cases and framing of assessment in demonetisation related casesX X X X Extracts X X X X X X X X Extracts X X X X ..... 5/100/2017/ITA-II. 2. Instruction No. 4/2017 dated 03.03.2017 issued vide F.No. 225/100/2017/ITA-II. 3. SOP dated 15.11.2018 issued vide F.No. 225/363/2017/ITA-II. 4. SOP dated 03.03.2019 issued vide F.No. 225/363/2017/ITA-II. 5. Internal Guidance Note dated 13.06.2019 issued vide F. No. 225/145/2019/ITA-II. Kindly refer to the above 2. In this regard, I am directed to state that the Board has earlier issued above referred SOPs/Instruction/Internal Guidance Note regarding handling of cases related to demonetisation. In continuation of the same, a Verification Checklist-cash deposits is enclosed herewith for providing assistance to AOs for verification of cash deposits and framing of assessment in demonetisation relate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ast 3 year None of the above 2.2 Total Income of the taxpayer in FY 2016-17 2.3 Gross Total Income (including exempt income) of the taxpayer in FY 2016-17 2.4 % of Cash Deposit to Gross Total Income (including exempt income) Value = (1.2/2.3) 2.5 Nature of Deposit Out of loan received ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... above Select Response 3.2 Nature of Business Select from standard list of Nature of Business Overall Assessment 3.3 Whether Cash Deposits appear in line with earlier Sales Profile Very High High In line Low Very Low Select Response 3.4 Result of Evaluation of Stock Register Stock register is not maintained Stock register is maintained in adhoc manner Stock register is integral part of accounting software ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Percentage increase between 4.2 (a) and 4.1 (a) (b) Percentage increase between 4.2 (b) and 4.1 (b) (c) Percentage increase between 4.2 (c) and 4.1 (c) 5. Cash Sales 5.1 (a) Total cash sales in F.Y. 2015-2016 (b) Total cash sales from 01.04.2015 to 08.11.2015 5.2 (a) Total cash sales in F.Y. 2016-2017 (b) Total cash sales from 01.04.2016 to 08.11.2016 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7. Analysis of month wise cash sales and cash deposits from 01.04.2016 to 08.11.2016 Month wise Op. cash in hand Cash sales Cash deposited in Bank Cash withdrawal from the bank Closing cash on hand April, 2016 May, 2016 June, 2016 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Whether the changes are for genuine reasons. Assessment Procedure S. No. Further verification Remarks Yes No 14 Whether the books of accounts have been rejected 15 Whether the additions have been made u/s 68 to 69D. please mention the section. 16 Whether tax is calculated as per section 115BBE 17 Whether penalty u/s 271AAC has been levied - Circular - Trade Notice - Public Notice - Instru ..... X X X X Extracts X X X X X X X X Extracts X X X X
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