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Cash transaction in svg bank ac over 10 lacs durring the yea

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Querist : Anonymous

Querist : Anonymous (Querist)

14 June 2013 Dear Experts,
I have made transaction about 16 lacs cash deposit & 15 lacs cash withdrawl durring the year. The case is selected for us143. There is no Cash Flow durring thg the year but officer made penalty of Rs.396400.00 for cash transaction in saving Bank Ac.
Now what can i do.
Please Answer me ...

Anil Sankar V

Anil Sankar V (Expert)
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14 June 2013 if u have any land, you can simply arguing saying received depoist on land advance and refunded them laterfrom multilple customers

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