More and more notes are printed and issued daily-RBI briefs Media agencies on Currency Issues and alleged involvement of staff in suspicious transactions Reserve Bank of India Date : Dec 13, 2016 Shri R. Gandhi and Shri S. S. Mundra, RBI Deputy Governors brief Agencies on Currency Issues: …
Banks to preserve CCTV recordings from 08-11-2016 to 30-12-2016 for action in illegal accumulation of new currency notes-RBI Reserve Bank of India Preservation of CCTV recordings RBI/2016-17/181 DCM (Plg) No. 1712/10.27.00/2016-17 December 13, 2016 The Chairman & Managing Director Chief Executive Officers All Banks Dear Sir, Preservation of …
Additions ignoring peak credit amounts to double taxation if there is no material to show cash withdrawals could not have been re-deposited-ITATÂ ABCAUS Case Law Citation: ABCAUS 1082 (2016) (12) ITAT Brief Facts of the Case: The Assessing Officer (AO) found that the assessee had not disclosed one …
Axis Bank Licence Cancellation rumours for allegations of serious irregularities in deposit/exchange of Specified Bank Notes denied by RBI Date : Dec 12, 2016 RBI denies Rumours on Axis Bank The Reserve Bank of India today clarified that it has not initiated any action to cancel the banking …
Bank to mention old-new currency deposits in counterfoils and educate customers to fill-up cash deposit slips showing old or new currency with denomination – Finance Ministry The Ministry of Finance through a letter to all the MDs &CEOs/CMDs of PSBs and Chairman, IBA directs that all the bank branches …
Peak Credit theory additions apply for unexplained cash deposits or where assessee fails to give satisfactory explanation and amount is sought to be added u/s 68 69-ITAT ABCAUS Case Law Citation: ABCAUS 1081 (2016) (12) ITAT Important Case Laws cited: CIT vs. K. Chinnatharmban (292 ITR 682)(SC) Manoj …
