https://www.taxtmi.com/caselaws?id=757215 The ITAT Delhi held that cash deposits during demonetization period cannot be treated as unexplained income under section 69A. The tribunal found that cash deposits in FY 2016-17 (87.92% of cash sales) were consistent with business trends from previous years (87-91.2% of cash sales), representing 15-28% of total sales. Since the assessee maintained sufficient cash balance per accepted books of accounts and deposits followed established business patterns, the addition was deleted and decided in favor of the assessee. en-us Wed, 14 Aug 2024 00:00:00 +0530 Sat, 17 Aug 2024 09:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757215 The ITAT Delhi held that cash deposits during demonetization period cannot be treated as unexplained income under section 69A. The tribunal found that cash deposits in FY 2016-17 (87.92% of cash sales) were consistent with business trends from previous years (87-91.2% of cash sales), representing 15-28% of total sales. Since the assessee maintained sufficient cash balance per accepted books of accounts and deposits followed established business patterns, the addition was deleted and decided in favor of the assessee. Case-Laws Income Tax Wed, 14 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757215