TaxTMI 
TaxTMI 
The relation between bank deposit with turnover
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....he relation between bank deposit with turnover<br> Query (Issue) Started By: - TAPAN PAL Dated:- 22-1-2016 Last Reply Date:- 24-1-2016 Income Tax<br>Got 1 Reply<br>Income Tax<br>Sir In the assessment....
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.... of a proprietary concern, The A.O determined turnover on the basis total bank deposit and the demand the tax. Though I submit my Cash Book and the A.O checked all bank transaction from bank statement....
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....s and never found any shortfall in cash balance and the A.O did not reject also my books of accounts. How shall i establish this before CIT(Appeal). Thanks Reply By Ganeshan Kalyani: The Reply: B....
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....ank statement also forms a part of document to arrive at turnover. You can summarize your transaction with remarks as regard source of income and convince the CIT.<br> Discussion Forum - Knowledge Sha....
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....ring ....