https://www.taxtmi.com/forum/issue?id=114412 Same-day cash deposit and withdrawal recorded to regularise a KCC limit prompts an assessing officer inquiry; the bank must explain the transactional purpose, accounting treatment and produce supporting records linking the entries to permissible credit-regularisation practices, with the bank bearing primary responsibility to justify and document the transaction for income tax compliance. en-us Wed, 19 Dec 2018 13:09:48 +0530 Thu, 23 Jan 2025 15:55:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=114412 Same-day cash deposit and withdrawal recorded to regularise a KCC limit prompts an assessing officer inquiry; the bank must explain the transactional purpose, accounting treatment and produce supporting records linking the entries to permissible credit-regularisation practices, with the bank bearing primary responsibility to justify and document the transaction for income tax compliance. Discussion-Forum Income Tax Wed, 19 Dec 2018 13:09:48 +0530 https://www.taxtmi.com/forum/issue?id=114412