Addition u/s 69A - cash sales undertaken in demonetised cash ...

Income Tax

March 22, 2022

Addition u/s 69A - cash sales undertaken in demonetised cash after 08/11/2016 - the specified bank notes can be measured in monetary terms since the guarantee of the Central Government and the liability of Reserve Bank of India does not cease to exist till 31.12.2016. In view of the above, the contention of the Ld.DR, treating the receipt of SBNs from cash sales as illegal and thereby invoking the provisions of section 69A is not valid in law. - AT

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Addition u/s 69A - cash sales undertaken in demonetised cash ...

Income Tax

March 22, 2022

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