https://www.taxtmi.com/caselaws?id=443792 The Tribunal upheld the CIT(A)'s decision that Rs. 28,00,000 deposited in demonetized currency by the FMCG business was unexplained and subject to treatment under Section 69A. The Tribunal found the assessee's explanations inadequate, emphasizing the prohibition on accepting demonetized currency and the failure to substantiate the source of the deposited amount. The appeal was dismissed, affirming the addition of the deposited sum as unexplained investment. en-us Tue, 16 May 2023 00:00:00 +0530 Tue, 03 Oct 2023 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443792 The Tribunal upheld the CIT(A)'s decision that Rs. 28,00,000 deposited in demonetized currency by the FMCG business was unexplained and subject to treatment under Section 69A. The Tribunal found the assessee's explanations inadequate, emphasizing the prohibition on accepting demonetized currency and the failure to substantiate the source of the deposited amount. The appeal was dismissed, affirming the addition of the deposited sum as unexplained investment. Case-Laws Income Tax Tue, 16 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443792