Tag: cash deposits
Explanation can not be rejected applying prudent mans behaviour test. High Court deletes addition made for cash deposits applying Principle of preponderance of probability ABCAUS Case Law Citation: ABCAUS 2261 (2018) (03) HC The appellant assessee had challenged the order of the ITAT in confirming the addition under …
Cash redeposits claimed out of withdrawals unlikely if deposited in remote bank branches not near to the assessee’s office or residence. No person will go to a branch to deposit extra cash leaving another bank branch near to his office/residence-ITAT ABCAUS Case Law Citation: ABCAUS 2255 (2018) (03) …
Reopening us 147 on the basis of cash deposits in bank invalid as there was no basis to form reason that cash deposits represented income of the assessee – ITAT ABCAUS Case Law Citation: ABCAUS 1128 (2017) (02) ITAT Assessment Year : 2008-09 Date/Month of Pronouncement: February, 2017 …
Revised Rules for reporting cash deposit transaction by banks. Amendment to Rules 114B and 114E. More than Rs. 250000 deposited between 9th Nov, 2016 to 30th Dec, 2016 now reportable-CBDT CBDT has further amended Rules 114B, 114C, 114D and 114E by Notification No. 02/2017 dated 06-01-2017 providing for …
