fake Indian currency notes in higher
denomination has increased. For ordinary persons, the fake notes
look similar to genuine notes, even though no security feature ... amounts from time to time in currencies of various
denominations including high denomination notes. He could,
however, satisfy the authorities about the fact that
assessee which shows the receipt
of a sum on conversion of high denomination notes tendered for conversion by
the assessee himself, it is necessary ... from the
assessee and not from the department. In cases of high denomination notes,
where the business ond the state of accounts and dealings
fake Indian currency notes in higher
denomination has increased. For ordinary persons, the
fake notes look similar to genuine notes, even though no
security feature ... 2025
time to time in currencies of various denominations
including high denomination notes. He could, however,
satisfy the authorities about the fact that
fake Indian currency notes in higher denomination
has increased. For ordinary persons, the fake notes look similar to
genuine notes, even though no security feature ... amounts from time to time in currencies of various
denominations including high denomination notes. He could,
however, satisfy the authorities about the fact that
made to the income of the assessee following the encashment of high denomination notes. The question before the Supreme Court was whether there ... nature of the source from which the assessee derived the said high denomination notes remained unexplained. In answering the question, the Supreme Court observed
income, of the assessee at a
certain figure. Following demonetization of high
denomination notes the assessed encashed notes of the value ... sale proceeds of forest produce, fisheries
etc. Following demonetization of High Denomination Notes in
January 1946 the assessee encashed such notes of the value
Commissioner of Income-tax which happened to be a case on high denomination notes. The assessee encashed on 18th January, 1946, high denomination notes ... assessee which shows the receipt of a sum on conversion of high denomination notes rendered for conversion by the assessee himself, it is necessary
face of the note; (d) " high denomination bank note" means a bank note of the denominational value of one thousand rupees, five thousand rupees ... denomination bank notes tendered.
Denomination
Number of Notes
Distinctive Numbers*
Total value
Rs. 1000
Rs. 5000
Rs./ Rupees
(in words)
*Distinctive numbers of bank notes
IXth Schedule Ordinance No. III of 1946 called the
High Denomination Bank Notes (Demonetisation) Ordinance, 1946. By S. 3 of
that Ordinance, after January ... high denomination bank notes,
notwithstanding anything contained in S. 26 of the Reserve Bank of India
Act, 1934 ceased to be legal tender in payment
being the amount of certain high denomination notes encashed by the appellant, as income from undisclosed source. Being aggrieved by this addition, the appellant appealed ... positive and tangible proof to correlate the encashment of high denomination notes worth Rs. 2,38,000 with any previous saving or withdrawals
