Section 133C — the law in short
What the courts have decided on section 133C, in one screen. Read this first; open an entry when you need the facts, the reasoning and the source.
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CBDT Instruction No. 03/2017 — the demonetisation cash verification SOP
CBDT Circulars & InstructionsCuts both ways
Is there a departmental instruction telling the officer how to verify my demonetisation cash deposits, and what comparisons is he supposed to make?
Yes. The Board issued a Standard Operating Procedure on 21 February 2017 for the online verification of cash deposits made in the demonetisation window. It fixes deposit levels at which no further verification is to be made — up to 2.5 lakh for an individual without business income, and Rs. 5.0 lakh for a person above 70 — and it lists the comparisons an officer is to run before treating recorded cash sales as back-dated, the first of which is an abnormal jump in cash sales for November and December 2016 against the assessee's own earlier history.
Listed strongest first: Supreme Court, then High Court, then Tribunal, then CBDT. Nothing here has yet been read in full by a chartered accountant — open an entry to see where it came from.