Not Every Deposit during Demonetization Period will under category of Unaccounted Cash: ITAT directs Re-Adjudication [Read Order]

By Aparna. M - On July 13, 2023 8:30 am - 2 mins read

Not Every Deposit during Demonetization Period will under category of Unaccounted Cash - Demonetization - ITAT directs Re-Adjudication - Re-Adjudication - ITAT - Unaccounted Cash - Taxscan

The Income Tax Appellate Tribunal (ITAT) of Bangalore Bench held that the payment of bonus made to employees before the due date of filing a return of income under Section 139(1) of Income Tax Act are sufficient for compliance of Section 43B of Income Tax Act, 1961. Neralakere Marulasiddappa Dayananda, the taxpayer deposited an amount…

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