https://www.taxtmi.com/article/detailed?id=11580 Deposits of demonetized currency received after the demonetization date are not automatically treatable as unexplained income where the taxpayer shows a business-consistent explanation supported by factors such as no sudden spike in cash sales, payment of applicable indirect taxes, routine cash receipts including other denominations, identifiable customers, and compelling circumstances, and where the assessing authority fails to demonstrate that deposited cash was unaccounted. en-us Thu, 06 Jul 2023 10:57:27 +0530 Thu, 06 Jul 2023 14:16:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11580 Deposits of demonetized currency received after the demonetization date are not automatically treatable as unexplained income where the taxpayer shows a business-consistent explanation supported by factors such as no sudden spike in cash sales, payment of applicable indirect taxes, routine cash receipts including other denominations, identifiable customers, and compelling circumstances, and where the assessing authority fails to demonstrate that deposited cash was unaccounted. Articles Income Tax Thu, 06 Jul 2023 10:57:27 +0530 https://www.taxtmi.com/article/detailed?id=11580