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SBN deposited during demonetization – ITAT remanded matter back to AO
Case Law Details
- Case Name
- Sh. Jagjit Singh S/o Inder Singh Vs ITO (ITAT Amritsar)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Amritsar
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Sh. Jagjit Singh S/o Inder Singh Vs ITO (ITAT Amritsar)
Considering the order of the revenue authorities the assessee was not able to submit the confirmation from the sundry debtor, M/s AD Traders. The confirmation is annexed with the paper book of the assessee APB page no. 3. The assessee received SBN during demonetization period on dated 10.11.2016. The amount was deposited in the bank account. The amount was received before the appointed day i.e., dated 31.12.2016. So, the assessee shall not in a violation for receiving SBN as per the Act. In Income tax Act the source was unexplained before...
