https://www.taxtmi.com/caselaws?id=430194 Cash deposits made during the demonetisation period were not to be treated as unexplained money under section 69A where the taxpayer explained earlier cash balance and sale proceeds received in specified bank notes, and the surrounding evidence supported that source. The objection based on the demonetisation timeline was rejected because the Specified Bank Notes (Cessation of Liabilities) Act, 2017 did not prohibit holding or dealing in such notes up to the appointed date of 31.12.2016. On that basis, the explanation for the deposits was accepted and the addition was unsustainable. en-us Fri, 14 Oct 2022 00:00:00 +0530 Fri, 24 Apr 2026 14:58:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430194 Cash deposits made during the demonetisation period were not to be treated as unexplained money under section 69A where the taxpayer explained earlier cash balance and sale proceeds received in specified bank notes, and the surrounding evidence supported that source. The objection based on the demonetisation timeline was rejected because the Specified Bank Notes (Cessation of Liabilities) Act, 2017 did not prohibit holding or dealing in such notes up to the appointed date of 31.12.2016. On that basis, the explanation for the deposits was accepted and the addition was unsustainable. Case-Laws Income Tax Fri, 14 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430194