https://www.taxtmi.com/caselaws?id=415833 Cash deposits made during demonetisation that were shown to be business sale proceeds already embedded in taxed trading receipts could not be treated again as unexplained cash credits under section 68. The Tribunal accepted that the receipts formed part of the assessee's admitted business turnover, that the corresponding income had already been offered to tax, and that the deposits were supported by the trading activity carried on with small and medium traders. On those facts, the addition was held to create double taxation. The consequential application of section 115BBE was therefore unsustainable and the addition was 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 Cash deposits made during demonetisation that were shown to be business sale proceeds already embedded in taxed trading receipts could not be treated again as unexplained cash credits under section 68. The Tribunal accepted that the receipts formed part of the assessee's admitted business turnover, that the corresponding income had already been offered to tax, and that the deposits were supported by the trading activity carried on with small and medium traders. On those facts, the addition was held to create double taxation. The consequential application of section 115BBE was therefore unsustainable and the addition was deleted. Case-Laws Income Tax Mon, 13 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415833