The Reserve Bank of India has announced a change in the rules for non-callable term deposits.

The ITAT recognized and accepted these pieces of evidence, leading to the dismissal of the addition. Additionally, the ITAT considered the fact that the ld CIT(A) had overlooked an affidavit provided by the assessee, which included a registered sale deed.

Notice RBI: There has been a decrease in the overall worth of Rs. 2000 notes in circulation, accounting for approximately 10.8% of the total as of March 31, 2023, which is around Rs 3.62 lakh crore.

The RBI has announced the withdrawal of Rs. 2000 notes from circulation & requested the public to submit the 2000 notes if they have them for exchange