25 November 2010
HI FRIENDS, I HAD RECEIVED A NOTICE U/S 142(1) FOR A.Y. 2009-10 DATED 15.10.2010 CALLING FOR SOME INFORMATION AND SUBMITTING DETAILS. THE PROBLEM IS THAT MY BANK ACCOUNT SHOWS NUMEROUS TRANSACTIONS AMOUNTING TO A TOTAL OF RS. 18 LAKHS. ACTUALLY THESE TRANSACTIONS WERE ONLY DEPOSITS AND WITHDRAWLS TO MY BANK ACCOUNT BY MYSELF JUST TO SHOW TRANSACTION FOR ABROAD VISA PURPOSES. HOW CAN I EXPLAIN THE SAME TO A.O.? CAN I TELL HIM THAT THESE WERE JUST TRANSACTIONS MADE FOR RECORD IN THE PASSBOK? I DO NO HAVE ANY EVIDENCE TO PROVE EXCEPT THAT I AM GOING TO ABROAD.CAN THESE PUT ANY PENALTY IMPLICATIONS ON ME AS I HAVE NOT MENTIONED THESE IN MY RETURN FILED MANUALLY. KINDLY ADVISE ON URGENT BASIS. THANKS AND REGARDS, SANDEEP THAKUR.
25 November 2010
the amount at one time deposited is rs 250000/- but the same is withdrawn again and deposited again and again withdrawn so to make a total of 18 laks of total transaction. but the same 25000/- is being deposited and withdrawn.
CAclubindia
