withdrawl from bank
This query is : Resolved
01 December 2008
Dear all
An assessee has withdrawn Rs. 6,00,000 in financial year from his bank A/c,i.e Rs.3,00,000 each. and deposited the same amount in next year. so is it in accordance with provisions of Income tax.is there any case law relating to this..
Dear all
An assessee has withdrawn Rs. 6,00,000 in financial year from his bank A/c,i.e Rs.3,00,000 each. and deposited the same amount in next year. so is it in accordance with provisions of Income tax.is there any case law relating to this..
K V Subba Rao
(Expert)
01 December 2008
Get ready with justification to substantiate that amount was not employed to earn any income during the intervening period
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