Finance : Recent reforms in gold, land, and PAN tracking hint at a structured buildup toward another demonetisation. The key takeaway is a t...
Income Tax : Discover the implications of a significant Delhi ITAT ruling on cash sales pre-demonetization. Learn how it affects taxation and f...
Income Tax : Explore the impact of demonetization on cash deposits in India and the key legal insights from Section 69A vs. Section 44AD cases....
Fema / RBI : Public can continue to use ₹2000 banknotes for their transactions and also receive them in payment. However, they are encouraged...
Finance : Understand the implications of depositing the Rs. 2000 note in banks amid its withdrawal from circulation. Explore challenges, inc...
CA, CS, CMA : SFIO, Ministry of Corporate Affairs, arrests CA Nalin Prabhat Panchal in Hyderabad for failure to honor summons related to Nityank...
Income Tax : No study on effect of withdrawal of legal tender character of the Specified Bank Notes (SBNs) on Indian economy has been published...
Income Tax : Demonetisation, inter alia, led to detection of black money, increase in tax collection and widening of tax base: Union MoS for Fi...
Fema / RBI : Value of counterfeit notes detected in banking system reduced from ₹43.47 crores in 2016-17 to ₹8.26 crores in 2021-22 since d...
Income Tax : An analysis of the search cases, conducted by Income Tax Department (ITD), involving cash seizures of more than Rs 5 crores in the...
Income Tax : The case involved cash deposits during demonetization treated as unexplained income. The tribunal accepted the explanation of fore...
Income Tax : The Tribunal deleted the addition after finding that cash deposits were supported by disclosed sale consideration and documentary ...
Income Tax : The issue was whether demonetization cash deposits were unexplained. The Tribunal held that deposits from recorded business sales ...
Income Tax : The judgment reiterates that additions under Section 68 cannot be based on presumptions or suspicion without supporting evidence. ...
Income Tax : The issue involved SBN deposits treated as unexplained despite being part of recorded sales. The Tribunal held that taxing the sam...
Fema / RBI : RBI reported that 98.44% of ₹2000 banknotes in circulation have been returned since the withdrawal announcement in May 2023. How...
Fema / RBI : The RBI announced the withdrawal of ₹2000 notes in May 2023. As of Sept 30, 2025, 98.35% of notes are returned. Notes remain leg...
Fema / RBI : RBI provides an update on the withdrawal status of ₹2000 banknotes, with 98% of notes returned by October 31, 2024....
Fema / RBI : RBI has extended deadline for withdrawal of ₹2000 banknotes to October 7, 2023. Learn about new guidelines and arrangements....
Fema / RBI : Reserve Bank of India's decision to withdraw ₹2000 banknotes has been highly effective, with 93% of these notes already returned...
The ITAT Pune ruled on whether an assessment order was erroneous and prejudicial to the revenue concerning cash deposits during the demonetization period, providing key clarifications on Section 263 of the Income Tax Act.
The ITAT Delhi upheld the deletion of a ₹39.83 crore addition to Santosh Trust, ruling that its cash deposits during demonetization were explained by regular fee collections
ITAT Pune upholds the deletion of a Rs.1.06 crore addition to a co-operative society’s income, ruling that the cash deposits were explained by daily member savings.
ITAT Delhi rules that cash deposits made during demonetization from recorded cash sales are not unexplained income, deleting an addition under Section 68.
The Delhi ITAT upholds the deletion of a ₹9.84 crore addition, ruling that cash deposits during demonetisation were genuine sales. Suspicion cannot be substituted for evidence.
The ITAT Delhi has deleted a ₹5.15 lakh tax addition for cash deposits during demonetization. The Tribunal ruled that the funds were explained by agricultural income and land sale proceeds.
The ITAT Ranchi deletes a ₹1.67 crore addition to a hardware merchant’s income, ruling that cash deposits during demonetisation were explained by recorded sales.
Delhi ITAT upholds the deletion of a tax addition on cash sales during demonetization, ruling that the tax authority’s addition was based on assumptions, not evidence.
ITAT Mumbai rules that demonetization cash deposits should be treated as business turnover and not as unexplained income, deleting a separate addition.
The Income Tax Appellate Tribunal (ITAT) Chennai has granted S.S.S. Export another chance to substantiate cash deposits under Section 69A, remanding the appeal to the CIT(A).
