Hi Experts,
Assessee received monthly rent of more than Rs.20000 in cash during fy 2016-17. Now AO in his ongoing proceeding noticed the assessee that " you have received the amounts more than 20K and your receipt may be treated as unaccounted cash deposit into bank". In response, it was replied to AO that the same receipt is not under the purview of sec 269SS or sec 40A(3), and the income received in cash had already been taxed under house property, but the AO is still in the wording of (or otherwise) 269SS. Apart from withdrawal from partnership, AO is concentrating the cash receipt of rent. Now, what will be the appropriate solution with that effect.
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