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Case Law Details

Case Name : Smt. Kavita Chandra Vs CIT (Appeals) (Punjab & Haryana High Court)
Appeal Number : IT Appeal No. 421 of 2016 (O & M)
Date of Judgement/Order : 07/03/2017
Related Assessment Year :
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After examining the entire evidence on record, the Tribunal has upheld the finding recorded by CIT(A) with regard to cash deposit to the tune of Rs. 14,20,212/- as unexplained. It has been categorically recorded by the Tribunal that out of the 33 withdrawals, only two withdrawals of Rs. 2 lacs each from Bank of Rajasthan and ICICI Bank were made in cash. The rest were all withdrawals by cheque – small amounts made mostly by an employee of the assessee. Similarly, in many cases, small amounts were withdrawn two or three times on a single day by different person

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3 Comments

  1. Jitendra Vichare says:

    Dear Sir,
    Thanks for highlighting this issue.
    We are Advertising Agency and last two months I am trying to raise this issue .
    It is great if you can help to arrest this problem.
    Thanks and Regards

  2. K NANDA KUMAR says:

    Sir, appartently this was written before the announcement of GST @ 28% on cinema tickets. It is a huge negative for the industry, with local bodies, being allowed to collect additional taxes/cess on cinema tickets.

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