Unexplained cash deposits - Assessee is directed to establish ...

Assessee Must Justify Cash Deposits During Demonetisation to Avoid Unaccounted Classification; Burden of Proof Lies with Them.

May 17, 2023

Case Laws Income Tax AT

Unexplained cash deposits - Assessee is directed to establish all relevant details to substantiate its claim in line with the above applicable instructions. We are aware of the fact that not every deposit during the demonetisation period would fall under category of unaccounted cash. Burden is on the assessee to establish the genuineness of the deposit in order to fall outside the scope of unaccounted cash. - AT

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Unexplained cash deposits - Assessee is directed to establish ...

Assessee Must Justify Cash Deposits During Demonetisation to Avoid Unaccounted Classification; Burden of Proof Lies with Them.

May 17, 2023

Case Laws Income Tax AT

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