Income tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 September 2016 dear expert,
one of my client, have recd.notice u/s. 148 from the department for A.y. 2009-10 for depositing cash Rs. 12 lacs. the assesseing officer say that what is the source of income which you deposit the cash. Assess have borrow from the particular persons and deposited cash in the a/c. assess have confirmation about cash recd.as loan from the persons. assessing office says that all cash dep. r.s12.00 lacs are add in your income, and you have to paid tax accordingly.
what is the solutions of above cases.??
Assessee have confirmation of Rs.10 lacs out of 12 lacs remaining Rs.2 lacs add in income of the asseess and filed the return u/s. 148 or not.
pl. advice. immidiately.
thanks in advance

Amol S Joglekar

Amol S Joglekar (Expert)
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06 September 2016 be cautious in saying that you have accepted LOAN in cash.....

https://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx

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