https://www.taxtmi.com/caselaws?id=312472 Cash deposited during demonetisation could not be taxed as unexplained money under section 69A where the cash balance was recorded in the cash book, supported by audited books, corroborative records and accepted opening cash balance, and where the receipts were shown as business income from pharmacy and hospital operations. The addition was deleted because the same recorded receipts could not be taxed again as undisclosed income. An estimated enhancement at 4% of the specified banknote deposits was also unsustainable, as it rested on residual doubt rather than any proved defect in the books or receipts. The deletion of both additions was upheld. en-us Fri, 19 Aug 2022 00:00:00 +0530 Wed, 20 May 2026 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312472 Cash deposited during demonetisation could not be taxed as unexplained money under section 69A where the cash balance was recorded in the cash book, supported by audited books, corroborative records and accepted opening cash balance, and where the receipts were shown as business income from pharmacy and hospital operations. The addition was deleted because the same recorded receipts could not be taxed again as undisclosed income. An estimated enhancement at 4% of the specified banknote deposits was also unsustainable, as it rested on residual doubt rather than any proved defect in the books or receipts. The deletion of both additions was upheld. Case-Laws Income Tax Fri, 19 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312472