https://www.taxtmi.com/caselaws?id=420927 Section 69A could not be invoked for cash deposits recorded in the assessee's books, because the statutory condition of money not recorded in the books was absent and the Assessing Officer did not dispute the recorded transactions. Reliance on third-party statements also failed because the assessee was denied cross-examination despite requesting it, contrary to natural justice. Deposits made in specified bank notes around the demonetisation period were not treated as illegal or unexplained merely on that timing, as they were supported by records and made through the available banking channel. The assessee's explanation was accepted in law and on facts. en-us Mon, 11 Apr 2022 00:00:00 +0530 Wed, 13 Apr 2022 08:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420927 Section 69A could not be invoked for cash deposits recorded in the assessee's books, because the statutory condition of money not recorded in the books was absent and the Assessing Officer did not dispute the recorded transactions. Reliance on third-party statements also failed because the assessee was denied cross-examination despite requesting it, contrary to natural justice. Deposits made in specified bank notes around the demonetisation period were not treated as illegal or unexplained merely on that timing, as they were supported by records and made through the available banking channel. The assessee's explanation was accepted in law and on facts. Case-Laws Income Tax Mon, 11 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420927