Cash deposit of during demonetization period - total deposits ...

Assessing Officer's Addition Overruled: Deposits Below Rs. 2.5 Lakh During Demonetization Need No Further Verification Per CBDT Circulars.

May 18, 2022

Case Laws Income Tax AT

Cash deposit of during demonetization period - total deposits made by the assessee to his bank account was below Rs.2,50,000/- - when the CBDT Circulars clearly provide, no further clarification and verification is required to be made in the case of an Individual who is earning income from salary filing return of income has deposited during demonetization period. Therefore, addition made by the Assessing Officer and confirmed by the ld. CIT (Appeals) cannot be held as sustainable as the same is clearly against the Instruction issued by the CBDT. - AT

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Cash deposit of during demonetization period - total deposits ...

Assessing Officer's Addition Overruled: Deposits Below Rs. 2.5 Lakh During Demonetization Need No Further Verification Per CBDT Circulars.

May 18, 2022

Case Laws Income Tax AT

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