https://www.taxtmi.com/highlights?id=65558 Penalty u/s.271(1)(c) - unexplained cash deposit - the assessee has requested the Assessing Officer to treat the incurred cash deposit as his total sales receipts of trading activities of chalk lumps and offered profit at 8% of 9% of total turnover. Once the assessee has offered the same cash deposits, the AO cannot observe that the same is inaccurate particulars of income or concealment of particulars of income. - AT en-us Fri, 09 Sep 2022 09:38:04 +0530 Fri, 09 Sep 2022 09:38:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65558 Penalty u/s.271(1)(c) - unexplained cash deposit - the assessee has requested the Assessing Officer to treat the incurred cash deposit as his total sales receipts of trading activities of chalk lumps and offered profit at 8% of 9% of total turnover. Once the assessee has offered the same cash deposits, the AO cannot observe that the same is inaccurate particulars of income or concealment of particulars of income. - AT Highlights Income Tax Fri, 09 Sep 2022 09:38:04 +0530 https://www.taxtmi.com/highlights?id=65558