Evidentiary Breach: Invalidating Cash Deposit Assessments Arising from Chartered Accountant’s Misuse of KYC.

Assessment years 2011-12 and 2015-16 Flow of Events: Initial Findings Revenue observes significant cash deposits in the assessee’s Syndicate Bank and OBC accounts for the relevant assessment years. Assessee’s Defense The assessee fails to explain the source of the cash deposits, and there are no maintained books of account. Reassessment Proceedings Proceedings under section...