https://www.taxtmi.com/caselaws?id=415833 ITAT BANGALORE - AT allowed the appeal, deleting additions made under section 68 where cash deposits represented admitted business sale proceeds. The tribunal held demonetization did not convert admitted sales into unexplained credits or justify double taxation; trading accounts showed sufficient stock and books were not faulty. Section 115BBE was inapplicable because the assessee had a single trading source. Consequently, treating the deposits as income from undisclosed sources was unsustainable and the addition was directed to be deleted. en-us Mon, 13 Dec 2021 00:00:00 +0530 Wed, 01 Oct 2025 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415833 ITAT BANGALORE - AT allowed the appeal, deleting additions made under section 68 where cash deposits represented admitted business sale proceeds. The tribunal held demonetization did not convert admitted sales into unexplained credits or justify double taxation; trading accounts showed sufficient stock and books were not faulty. Section 115BBE was inapplicable because the assessee had a single trading source. Consequently, treating the deposits as income from undisclosed sources was unsustainable and the addition was directed to be deleted. Case-Laws Income Tax Mon, 13 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415833