https://www.taxtmi.com/caselaws?id=458846 Cash deposits in specified bank notes during the demonetisation period are not treated as unexplained investment merely because the notes had ceased to be legal tender, if the taxpayer can explain the nature and source through books and contemporaneous records. The article states that sections 69 and 69A require a genuine unexplained source, and a breach of demonetisation instructions or banking directions alone does not justify an addition. On the facts discussed, branch-wise cash records, sales details and closing balances supported the deposits as regular business receipts, with no contrary evidence of unaccounted cash, so the proposed addition was not sustainable. en-us Mon, 07 Oct 2024 00:00:00 +0530 Fri, 13 Feb 2026 18:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458846 Cash deposits in specified bank notes during the demonetisation period are not treated as unexplained investment merely because the notes had ceased to be legal tender, if the taxpayer can explain the nature and source through books and contemporaneous records. The article states that sections 69 and 69A require a genuine unexplained source, and a breach of demonetisation instructions or banking directions alone does not justify an addition. On the facts discussed, branch-wise cash records, sales details and closing balances supported the deposits as regular business receipts, with no contrary evidence of unaccounted cash, so the proposed addition was not sustainable. Case-Laws Income Tax Mon, 07 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458846