SOP for handling of cases related to substantial cash deposit during the demonetisation period in which notice under section 142(1) of the Income-tax Act, 1961 has not been complied

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..... ck, N. DeIhi, dated the 5 th of March, 2019 To All Principal Chief-Commissioners of Income-tax/ All Principal Directors General of Income-tax Subject: SOP for handling of cases related to substantial cash deposit during the demonetisation period in which notice under section 142(1) of the Income-tax Act, 1961 has not been complied-regd. Sir/Madam, In cases related to substant .....

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..... of the Act has remained non-complied with, would be handled in the following manner: 2.1 An updated information regarding address, bank-account, transaction detail, etc. in the identified cases would be provided to the jurisdictional Assessing Officer (AO) by the Pr. DGIT (Systems). Further, an internal Guidance Note for assistance of AOs for verification of cash deposits and framing of ass .....

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..... time to time under section 144A of the Act . Further, Range Head would also monitor framing of the final assessment order. 2.4 Through local enquiries, AOs should endeavour to identify possible addresses of the assessee as per the modes prescribed in the second proviso to Rule 127 of the Income tax Rules, 1962 . The results of these enquiries are to be captured on ITBA in accordance wi .....

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..... portunity to explain his/her case. 2.7 In cases where ultimate beneficiary of a transaction has been established, the concerned AO shall forward the material available at his/her disposal to the AO having jurisdiction over the ultimate beneficiary so that appropriate action can be initiated in that case as per relevant provisions of the Act. Further, information regarding the entry operators .....

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