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De monitized notes and penalty

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 November 2016 respected sir ,
i like to know that ,whether receiving de monitized notes, as a part of business transactions is offence ,if yes under which law and what is the penalty or punishment.please discuss.
thanking you
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Querist : Anonymous

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Querist : Anonymous (Querist)
22 November 2016 respected sir
please comment
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Querist : Anonymous

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Querist : Anonymous (Querist)
22 November 2016 as per income tax act , receiving de-monitized notes it self is not an offence. but discussion is needed




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