Bombay High Court Directs RBI to Accept Rs 20 Lakh in Old Demonetised Notes Seized During IT Raid

Last updated: 12 March 2025

The Bombay High Court has directed the Reserve Bank of India (RBI) to accept Rs 20 lakh in old demonetised Rs 500 and Rs 1000 currency notes that were confiscated from a group of Kolhapur residents during an Income Tax raid on December 26, 2016. The court found it unjust to penalize the petitioners

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Category Income Tax   Report

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