Addition for money received from customers in old Notes – ITAT directs Assessee to furnish full details

Shri Palanisamy Chinnasamy Vs ITO (ITAT Chennai)

In this case, The assessment was completed under section 144 r.w.s. 144(1)(b) of the Act by making addition of ₹.5,34,000/- under section 69A of the Act on the ground that the money received from the customers on various dates in old notes cannot be accepted a genuine as the assessee was not supposed to receive currency as per the norms. The contention of the assessee is that he has received and remitted the demonetized currency within the time stipulated by

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