Bombay HC directs RBI to replace Demonetized Currency with Valid Notes [Read Order]
The Bombay High Court has directed RBI to replace demonetized currency notes with valid notes, subject to complying with prescribed requirements. ...
![Tribute to All House Wives: ITAT deletes Addition for Cash Deposits below Rs. 2.5 Lakhs made during Demonetization [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/06/House-Wives-ITAT-Cash-Deposits-Demonetization-Taxscan.jpg "Tribute to All House Wives: ITAT deletes Addition for Cash Deposits below Rs. 2.5 Lakhs made during Demonetization [Read Order]")
![Dept cant make Addition solely for receiving Scrapped Currencies Post-Demonetization: ITAT grants Relief to Jewellery after proving Huge Sales with Evidence [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/05/Scrapped-Currencies-Post-Demonetization-ITAT-Jewellery-Taxscan.jpg "Dept cant make Addition solely for receiving Scrapped Currencies Post-Demonetization: ITAT grants Relief to Jewellery after proving Huge Sales with Evidence [Read Order]")
![ITAT upholds Addition since assessee failed to explain the source of Cash Deposit in her Bank Account during Demonetization period [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/ITAT-source-of-cash-deposit-bank-account-demonetization-Taxscan.jpg "ITAT upholds Addition since assessee failed to explain the source of Cash Deposit in her Bank Account during Demonetization period [Read Order]")
Another Objective of DeMo Fails: Digital Transactions to go Expensive as Banks to Charge for UPI Transactions
In a setback to all persons using BHIM, Phone Pe, Google Pay etc., the Banks are going to charge a specific amount for such digital transactions. Kotak Mahindra bank has already announced that it’s...
Post Demonetization: More than 1100 Searches and Surveys were conducted, more than 5100 Verification Notices issued
The undisclosed income detected in these actions was more than Rs. 5400 crore. Disclosure of information regarding law flouters/specific taxpayers is prohibited except as provided under Section...
Demonenization; Cash transactions above 2 lakhs during the window-period must be shown in the IT Return
All cash payments of over Rs 2 lakh for paying loans and credit card bills during the 50-day period after the note ban will have to be disclosed in the new one-page Income Tax return (ITR) form. ...
Demonetization: SC to hear PIL seeking Withdrawal of all Taxes and Complete Ban of High Value Notes on Friday
The division bench of the Supreme Court, on Tuesday agreed to hear the PIL seeking complete ban of Rs. 500, 1000 and 2,000 notes and withdrawal of all taxes except custom and import duties; and...
