impugned
Notification. This is popularly known as an act/policy of
‘demonetization’.
3
2. Immediately after the impugned Notification was issued,
several writ petitions challenging ... policy of demonetization
came to be filed before this Court as also before various High
Courts. Transfer Petitions were filed by the Union, seeking
transfer
cash in bank account
amount to Rs 4,09,50,000/- during demonetization. The assessee is a proprietor of
M/s Radhika Sales Corporation, Dhab ... total cash deposited during demonetization period at Rs
4,09,50,000/-.The addition has been made by the ld. AO alleging that the appellant
CASS) to examine the issue of abnormal
increase in cash deposits during demonetization period from
09.11.2016 to 30.12.2016 as compared to average rate of cash ... deposit during pre-demonetization period. Accordingly statutory
3 ITA No. 149/JP/2022
Mahesh Kumar Gupta vs ACIT, Circle-04, Jaipur
notice
selected for complete scrutiny through CASS to examine cash deposits
during the demonetization period. Thereafter notice under section 143(2) and
142(1) were issued ... been
observed that during the demonetization period, the assessee company had
deposited a sum of Rs. 24,75,80,000/- and has declared source
made on account of cash deposits
during the demonetization period in SBNs without
appreciating the fact that the assessee could not
ITA No. 1035 ... October 2016 to 8h November 2016 (being the date of
announcement of demonetization)?"
iii "Whether on the facts and circumstances of the case
submitted as evidence during appellate proceedings for proving the
deposit of demonetized cash balance amounting Rs. 1522500/-. These
evidences may please be considered and addition ... Cash
Balance available on 08/11/2016 (SBNs) was deposited during the
demonetization period and the Cash-in-hand
business is not
exception to same .
During the course of demonetization period , the appellant deposited cash
to the tune of Rs. 51,60,000/- into ... make any verification relating to source of cash deposit made
during demonetization period & also holding non application of mind
treating the cash deposit during the
demonetization period as unexplained cash credit. The other
issues which have been raised is with regard to addition ... deposited cash of Rs. 1,26,00,000/-
during the period of demonetization from 09.11.2016 to
30.12.2016 in its bank account. From the perusal
following
communication to GVK, apropos the decision of the DOE to
demonetize ₹ 500/- and ₹ 1,000/-, stating that ad hoc payment of
compensation ... Udeep K, GM (Tech), Delhi; Navin Kumar Chaurasia,
DGM(T)
Subject: RE: Demonetization Impact and guidance to Tolled
National/State Highways
Importance: High
1) Toll
made by the ld. AO on account of cash sales made before
demonetization which was deposited in the bank account as alleged
unexplained amount credited ... assessee's argument is that these sales
were made after demonetization was declared at 8 pm. It is
not possible to sale goods worth
