AO Fails to Apply CBDT Instructions regarding Cash Deposits During Demonetization: ITAT Remands for Re-Examination [Read Order]

Considering AO's failure to apply CBDT Instructions on cash deposits issue during the Demonetization period, ITAT remands matter.
By Kavi Priya - On September 9, 2024 1:13 pm - 2 mins read
AO - assessing officer - ITAT - income tax - income tax act - itat on CBDT Instructions - itat about CBDT Instructions - ITAT Remands for Re-Examination - itat news - income tax news - income tax act news - taxscan

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) remanded the matter for re-examination due to the assessing officer’s failure to apply CBDT’s (Central Board of direct taxes) instructions on cash deposits during the demonetization period. Gowdara Mahalingappa (assessee), a partner in M/s Gowdara Jayadevappa Silks & Sarees deposited Rs.58,40,000 in a joint savings bank…

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