Little Known Facts About 22 cash.
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Deposit of cash in the shape of notes that were declared as not authorized tender owing to demonetization of currency:
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Hence, the same is treated as unexplained cash credits u/s 68 in the Act within the books of account with the assessee and the identical is necessary to become introduced read more to tax. The assessee has acknowledged for that addition of the same on the return income. Accordingly, a sum of Rs.four,forty nine,500/- is brought to tax u/s 68 of the Act and to tax as u/s 115BBE on the Act.”
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– AO culled out which the deposits which was product of lender notes which were declared as not lawful tender owing to demonetization of forex .
Mr Greatest added that industries in Northern Ireland experienced began to decarbonise through Strength effectiveness measures for example moving business vehicles to electric powered and switching to reduce carbon cements.
Out of the aforesaid cash deposits, the AO culled out, the deposits which was made from lender notes which were declared as not lawful tender owing to demonetization of currency. The small print of the total cash deposits produced by the Assessee in her bank account and the cash deposits of cash/currency notes which were declared as not authorized tender which were deposited because of the Assessee in his two banking account are as follows: