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![Mere Acceptance of SBN During Demonetization cannot be Treated as Unexplained Cash Credit when Cooperative Society Acts as Intermediary: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/02/26/2127179-mere-acceptancejpg.webp "Mere Acceptance of SBN During Demonetization cannot be Treated as Unexplained Cash Credit when Cooperative Society Acts as Intermediary: ITAT [Read Order]")
Mere Acceptance of SBN During Demonetization cannot be Treated as Unexplained Cash Credit when Cooperative Society Acts as Intermediary: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, held that cooperative societies accepting the Specified BankNotes (SBNs) during the...
![Addition of Rs.6.48 Lakh as Unexplained SBN Deposits During Demonetization: ITAT Deletes Addition, Accepting Past Savings and Bank Withdrawals [Read Order]](https://images.taxscan.in/h-upload/2025/10/03/2093481-gst-itc.webp "Addition of Rs.6.48 Lakh as Unexplained SBN Deposits During Demonetization: ITAT Deletes Addition, Accepting Past Savings and Bank Withdrawals [Read Order]")
![Demonetized Notes Received from Disclosed Debtors Cannot Be Treated as Unexplained Cash: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/07/19/2065896-itat-disclosed-debtors-unexplained-cash-taxscan.webp "Demonetized Notes Received from Disclosed Debtors Cannot Be Treated as Unexplained Cash: ITAT [Read Order]")
![ITAT upholds Disallowance on Bad Debts, limits Unrecovered Debtors Balance to Rs.228.87 lakhs [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Chennai-bad-debts-ITAT-Upholds-Disallowance-taxscan.jpg "ITAT upholds Disallowance on Bad Debts, limits Unrecovered Debtors Balance to Rs.228.87 lakhs [Read Order]")
![ITAT Deletes ₹12 Lakh Addition on SBN Deposits Post-Demonetization, Accepts Sales as Source [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Bangalore-SBN-Demonetization-Deposits-taxscan.jpg "ITAT Deletes ₹12 Lakh Addition on SBN Deposits Post-Demonetization, Accepts Sales as Source [Read Order]")
ITAT Orders Detailed Verification of KYC for Cooperative Society’s SBN Deposits during Demonetization [Read Order]
In a recent case, The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) ordered detailed verification of “KYC” ( Know Your Customer) of the members of the assessee-cooperative society in...
![ITAT Orders Detailed Verification of KYC for Cooperative Society’s SBN Deposits during Demonetization [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/co-op-society-kerala-high-court-Reopening-of-Assessment-taxscan.jpg "ITAT Orders Detailed Verification of KYC for Cooperative Society’s SBN Deposits during Demonetization [Read Order]")
MCA imposes Penalty of Rs. 5000 on Chartered Accountant failing to Disclose Specified Bank Notes in Auditor’s Report
The MCA has fined a Chartered Accountant (CA) Rs. 5000 due to his omission of reporting the details of Specified Bank Notes that were deposited in banks in the audit report of Vinayak Builders and...
Cash Sales by Medical Shops Permitted by RBI during Demonetization, Doctors Prescription and ID of Purchasers Not Required: ITAT deletes Addition [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench, while deleting an addition under section 68 of the Income Tax Act, 1961 has held that the cash sales by the medical shops and pharmacies...
![Cash Sales by Medical Shops Permitted by RBI during Demonetization, Doctors Prescription and ID of Purchasers Not Required: ITAT deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Cash-Sales-Medical-Shops-RBI-Demonetizati-Doctors-Prescription-and-ID-of-Purchasers-ITAT-taxscan.jpg "Cash Sales by Medical Shops Permitted by RBI during Demonetization, Doctors Prescription and ID of Purchasers Not Required: ITAT deletes Addition [Read Order]")