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...
ITAT Delhi allows full relief to salaried individual for demonetization cash deposits, citing religious beliefs and proven salary withdrawals.
ITAT Ahmedabad dismisses ₹7.88 Cr bogus sales addition against jeweler during demonetization, citing lack of corroborating evidence and accepting assessee’s explanations.
ITAT Patna remands case for fresh scrutiny of ₹2.15 crore demonetization deposits, citing assessee’s lack of opportunity and ordering a fair hearing.
ITAT Mumbai rules cash deposits in SBNs during demonetization, with explained sources, cannot be treated as unexplained income, citing judicial precedents.
Ahmedabad ITAT rules in favor of Sudhirbhai Pravinkant Thaker, deleting cash addition, stating previous bank withdrawals can be source of later deposits if not utilized elsewhere.
Delhi ITAT deletes Section 69A cash additions against senior citizens Nand Kumar Taneja and Nita Taneja, citing disclosed income and recorded cash-in-hand.
Delhi ITAT deletes Rs. 1.37 Cr cash deposit addition for Fine Gujaranwala Jewellers, ruling sales were genuine despite demonetization surge.
ITAT Surat partially upholds cash addition for Arjunsinh Thakor but reduces taxable amount and applies pre-amendment tax rates under Section 115BBE.
ITAT Jabalpur rules on excess stock as undisclosed income and sets tax rates for survey income and cash credits, citing Vatika Township precedent.
ITAT Surat rules cash in real estate business isn’t automatically unexplained for demonetization deposits. Reduces ₹7.54L addition, cites Supreme Court on cash balances.
