that
the assessee has deposited Rs. 2,85,00,000/- in old currency during
demonetization period. Statement of Shri Surendra Kumar Gupta ... assessee company has
deposited total cash in old currency of Rs. 2,85,00,000/-on 18.11.2016 out
of total cash available as per cash
that
the assessee has deposited Rs. 2,85,00,000/- in old currency during
demonetization period. Statement of Shri Surendra Kumar Gupta ... assessee company has
deposited total cash in old currency of Rs. 2,85,00,000/-on 18.11.2016 out
of total cash available as per cash
said amount of Rs. 6,84,000/-
was received in old currency notes of Rs. 500/- & 1000/- during demonetization
period which the assessee ... 2016 for which he
has received the consideration in old currency notes on the same date i.e.
11/11/2016 as authorised by gazette
Acit, Cc-3,, Jaipur vs St.Wilfred Education Society, Jaipur on 2 January, 2020
vk
after the demonetization and
received the cash in old currency and deposited in bank accounts on
10.11.2016, 11.11.2016 & 12.11.2016 and shown this cash deposit ... same after 08.11.2017 and received the amount in cash in old currency.
The booking and supply of Bullion were made in Mis Mohit Jewellers
Lakhs in State Bank of Patiala on 12.11.2016 (in old currency during the
demonetization period) and has shown closing cash bank balance ... reproduced as under:-
"3. During demonetization period assessee has deposited old currency of Rs. 35,00,000/- on
dated 12.11.2016 in bank
customers flocked
on 8th November, 2016 to make heavy purchases with
old currency notes which pushed sales further
astronomically (Page 47 & 48 of paper ... make purchases of gold ornaments in order to
use their old currency. We also find that necessary and
requisite information on sales were furnished which
initial rush in the banks to deposit the old currency notes. It has been further
stated that the assessee and her husband once again came ... high value cash owing to the
enormous work of depositing of old currency notes due to demonetization.
13.3 It has further been submitted thatas
claimed that in Kota Branch there was
huge rush to deposit old currency, hence the appellant has deposited old currency in
Beawar Branch ... explanation that cash in old currency remained with the appellant till one
month after start of demonetization and that the cash was sifted from Kota
that the key persons of the bank were regularly exchanging old
currency with new currency in an unauthorized and illegal manner.
Further the statement ... Education Society. Accordingly, the ld. Pr.CIT has stated that the old
currency notes received from the students as fee was never applied
