https://www.taxtmi.com/caselaws?id=434928 Cash deposits made during the demonetisation period were not treated as unexplained money under section 69A where the assessee substantiated them with books of account, earlier returns, financial statements and a cash book showing realisation of disclosed sundry debtors. The contemporaneous records supported the explanation of source, and the deposits were made within the period when specified bank notes could still be deposited up to 31.12.2016. On those facts, the addition under section 69A and the consequential taxation under section 115BBE were unsustainable, and the deposits were accepted as explained from disclosed sources. en-us Wed, 22 Feb 2023 00:00:00 +0530 Wed, 18 Dec 2024 14:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434928 Cash deposits made during the demonetisation period were not treated as unexplained money under section 69A where the assessee substantiated them with books of account, earlier returns, financial statements and a cash book showing realisation of disclosed sundry debtors. The contemporaneous records supported the explanation of source, and the deposits were made within the period when specified bank notes could still be deposited up to 31.12.2016. On those facts, the addition under section 69A and the consequential taxation under section 115BBE were unsustainable, and the deposits were accepted as explained from disclosed sources. Case-Laws Income Tax Wed, 22 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434928