Author Topic: HD NOTES DEPOSITED ON DIFFERENT DATESTREATED BY ACIT AS UNEXPLAINED INCOME U/S68  (Read 224 times)

sai prasad

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THE ASSESSEE MAINTAIN BOOKS AND IN THE EARLIER YEAR HE WITHDREWIN LUMPSUM ON 31.03.2016 RS.3500000/- THAT WAS BROUGHT BACK INTO BOOKS AT THE TIME OF DEPOSIT OF HD NOTES  THE A.O DISBELIEVED  AND HELD THAT THE HD NOTES SHOUDL HAVE BEEN DEPOSITED IMMEDIATELY AFTER  ITS BAN.  PLEASE GIVE ANY JUDGEMENTS IN FAVOUR OF THE ASSESSEE.