Tag Archives: high denomination notes judgment

Deposit of high denomination notes can’t be unexplained when Cash Balance is Available

Facts of the case On 19-1-1978, the assessee tendered and deposited with the State Bank of India, Calcutta, 81 high denomination notes of Rs. 1,000 each. The assessee also furnished a declaration as required at the time of tender of high denomination notes. Columns 15 and 16 of the aforesaid declaration furnished are as under… Read More »