2022 (3) TMI 1519 - SCH - Income Tax

Validity of reopening of assessment - deposits of cash during demonetization period - As per HC petitioner as admittedly deposited in cash in his bank account and though the said entry is reflected in the return of income, yet no supporting evidences are available to prove the source of deposit therefore income otherwise chargeable to tax has escaped the assessment - HELD THAT - Learned counsel for the petitioner prays for and is granted liberty to withdraw the present petition. The Special Leave Petition is dismissed as withdrawn.

Summary

The Supreme Court of India in Citation 2022 (3) TMI 1519 - SC Order allowed the petitioner to withdraw the present petition, leading to the dismissal of the Special Leave Petition.