PR. COMMISSIONER OF INCOME TAX vs. M/S ANKIT CHIRAG DEVELOPERS PVT. LTD.
The appeal is allowed to the extent indicated herein-above, leaving
ITA/8/2024HC Rajasthan13 Aug 2024
Bench: MANINDRA MOHAN SHRIVASTAVA,MADAN GOPAL VYAS
For Appellant: Mr. S. Rajeswara Rao, AdvocateFor Respondent: Mr. Ajay Kumrani, Advocate on behalf of Mr. Amit
Section 115Section 143(2)Section 143(3)Section 260ASection 69Section 69A
275. The impugned notification has been issued with an
objective to meet the following three concerns:
275.1. Fake currency notes of the SBNs have been largely in
circulation and it has been found to be difficult to easily
identify genuine bank notes from the fake ones.
275.2. It has been found that high denomination bank notes
were used for storage
