https://www.taxtmi.com/caselaws?id=420871 ITAT held in favour of the assessee: the addition for unexplained cash deposits during the demonetization period was deleted as books were regular, sales, purchases and stocks were credible and accepted by tax authorities, exhibitions and festival season explained higher cash receipts, and no material proved diversion of sale proceeds. The addition for unexplained investment in showroom construction was also deleted because the DVO used higher CPWD rates, undervalued contractor supervision allowance, and the valuation gap was under 10%, making the AO's estimate unjustified. en-us Fri, 25 Mar 2022 00:00:00 +0530 Wed, 01 Oct 2025 16:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420871 ITAT held in favour of the assessee: the addition for unexplained cash deposits during the demonetization period was deleted as books were regular, sales, purchases and stocks were credible and accepted by tax authorities, exhibitions and festival season explained higher cash receipts, and no material proved diversion of sale proceeds. The addition for unexplained investment in showroom construction was also deleted because the DVO used higher CPWD rates, undervalued contractor supervision allowance, and the valuation gap was under 10%, making the AO's estimate unjustified. Case-Laws Income Tax Fri, 25 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420871