https://www.taxtmi.com/caselaws?id=439954 The Tribunal allowed the appeal, holding that the Assessing Officer erred in adding the cash deposits under Section 69 as unexplained income. The appellant, engaged in pharmaceutical distribution, successfully explained the source of cash deposits from sales made before demonetization. The Tribunal found the business model involving cash transactions common in the industry and noted no significant deviation in cash deposits compared to previous years. The additions were directed to be deleted, and the appeal was allowed. en-us Wed, 31 May 2023 00:00:00 +0530 Thu, 06 Jul 2023 07:56:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439954 The Tribunal allowed the appeal, holding that the Assessing Officer erred in adding the cash deposits under Section 69 as unexplained income. The appellant, engaged in pharmaceutical distribution, successfully explained the source of cash deposits from sales made before demonetization. The Tribunal found the business model involving cash transactions common in the industry and noted no significant deviation in cash deposits compared to previous years. The additions were directed to be deleted, and the appeal was allowed. Case-Laws Income Tax Wed, 31 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439954