Advance received Rs.15000/- from customer in cash and deposited to Bank, but our business transaction is not complete as per agreement and subsiquently amount is returned to customer in cash. The customer is not an incometax assessee.
Now the case is selected for scrutiny, the Assessing officer is not considered the source of cash deposit in bank , because the customer is not declared to Incometax in his return.
sir Please give me any case law regarding this problem.
CAclubindia
