DEMONETISATION PERIOD- MONEY TRANSFER BUSINESS
This query is : Resolved
15 December 2019
KIND ATTN. SIR
THE ASSESSEE IS DOING MONEY TRANSFER BUSINESS AND DURING DEPOSITED CASH WITH BANK AND USED FOR MONEY TRANSFER PURPOSE AND RECEIVED NOTICE UNDER SECTION 143(2) AND 143 (3) OF THE INCOME TAX ACT THROUGH ONLINE AND REPLY HAS BEEN FILED AND LATER ON THE AO HAS NOT ACCEPTED THE FACTS OF THE CASE AND ISSUED NOTICE, TREATING CASH DEPOSIT AS UNEXPLAINED MONEY AND LEVIED PENALTY . THE AO HAS CONSIDERED THE SAID MONEY AS ILLEGAL AND BANNED NOTES . THE SAID IS ASSESSEE IS UNABLE TO DEPOSIT 20% OF TAX DEMAND WITHIN THE STIPULATED PERIOD.KINDLY GUIDE US TO PROCEED FURTHER TO APPEAL WITHOUT PAYMENT OF 20% TAX ON DEMAND (ACCEPTED FOR GENUINE REASONS) OR IT CAN APPLIED FOR REVISION WITH CIT
WITH REGARDS
CA.P.SHANGAR
THE ASSESSEE IS DOING MONEY TRANSFER BUSINESS AND DURING DEPOSITED CASH WITH BANK AND USED FOR MONEY TRANSFER PURPOSE AND RECEIVED NOTICE UNDER SECTION 143(2) AND 143 (3) OF THE INCOME TAX ACT THROUGH ONLINE AND REPLY HAS BEEN FILED AND LATER ON THE AO HAS NOT ACCEPTED THE FACTS OF THE CASE AND ISSUED NOTICE, TREATING CASH DEPOSIT AS UNEXPLAINED MONEY AND LEVIED PENALTY . THE AO HAS CONSIDERED THE SAID MONEY AS ILLEGAL AND BANNED NOTES . THE SAID IS ASSESSEE IS UNABLE TO DEPOSIT 20% OF TAX DEMAND WITHIN THE STIPULATED PERIOD.KINDLY GUIDE US TO PROCEED FURTHER TO APPEAL WITHOUT PAYMENT OF 20% TAX ON DEMAND (ACCEPTED FOR GENUINE REASONS) OR IT CAN APPLIED FOR REVISION WITH CIT
WITH REGARDS
CA.P.SHANGAR
04 June 2020
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