https://www.taxtmi.com/caselaws?id=431633 Cash deposits shown as proceeds of recorded sales during the demonetisation period could not be taxed again as unexplained cash credits where the sales were reflected in audited books, supported by invoices and stock records, and the books were not rejected under section 145(3). On those facts, the receipts had already entered the profit and loss account, so a further addition under section 68 would amount to double taxation of the same income. In the absence of material showing bogus sales or unsupported cash receipts, the addition and the consequential application of section 115BBE were held unjustified and the deletion was upheld in favour of the assessee. en-us Thu, 15 Dec 2022 00:00:00 +0530 Mon, 30 Mar 2026 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431633 Cash deposits shown as proceeds of recorded sales during the demonetisation period could not be taxed again as unexplained cash credits where the sales were reflected in audited books, supported by invoices and stock records, and the books were not rejected under section 145(3). On those facts, the receipts had already entered the profit and loss account, so a further addition under section 68 would amount to double taxation of the same income. In the absence of material showing bogus sales or unsupported cash receipts, the addition and the consequential application of section 115BBE were held unjustified and the deletion was upheld in favour of the assessee. Case-Laws Income Tax Thu, 15 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431633