https://www.taxtmi.com/caselaws?id=391925 The court set aside the impugned order regarding cash deposits post-demonetization, directing a fresh assessment within sixty days. The petitioner's explanation of cash deposits from regular chit fund business collections was found consistent with usual business operations and compliance with regulatory requirements. The court emphasized an objective assessment based solely on filed records, highlighting the need for independence in the reassessment process. No costs were awarded, and connected petitions were closed. en-us Tue, 04 Feb 2020 00:00:00 +0530 Sat, 30 May 2026 11:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391925 The court set aside the impugned order regarding cash deposits post-demonetization, directing a fresh assessment within sixty days. The petitioner's explanation of cash deposits from regular chit fund business collections was found consistent with usual business operations and compliance with regulatory requirements. The court emphasized an objective assessment based solely on filed records, highlighting the need for independence in the reassessment process. No costs were awarded, and connected petitions were closed. Case-Laws Income Tax Tue, 04 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391925