https://www.taxtmi.com/caselaws?id=442295 Cash deposits received from identified members during the demonetisation period and credited to their pigmy, savings and loan accounts were treated as recorded book entries, so the essential conditions for invoking section 68 were not met. The assessee co-operative society furnished the names of depositors, deposit amounts and currency denominations, and no further material was produced to dislodge the identity of the members or the genuineness of the receipts. On those facts, the credits were not unexplained in the hands of the society, and the addition for unexplained cash credits was deleted. en-us Thu, 24 Aug 2023 00:00:00 +0530 Tue, 29 Aug 2023 08:37:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442295 Cash deposits received from identified members during the demonetisation period and credited to their pigmy, savings and loan accounts were treated as recorded book entries, so the essential conditions for invoking section 68 were not met. The assessee co-operative society furnished the names of depositors, deposit amounts and currency denominations, and no further material was produced to dislodge the identity of the members or the genuineness of the receipts. On those facts, the credits were not unexplained in the hands of the society, and the addition for unexplained cash credits was deleted. Case-Laws Income Tax Thu, 24 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442295