https://www.taxtmi.com/caselaws?id=458846 Cash deposits in specified bank notes during demonetisation cannot be treated as unexplained investment where accounted business receipts, books of account, and contemporaneous branch-wise and date-wise records establish their nature and source. Withdrawal of legal-tender status and any breach of demonetisation or banking instructions do not, by themselves, justify an addition under the unexplained-money provisions. For a government-owned liquor retailer, recorded opening cash, sales, deposits, and closing balances supported the deposits, while no contrary evidence established substitution of unaccounted cash. The addition under unexplained-investment provisions was therefore unsustainable. 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 demonetisation cannot be treated as unexplained investment where accounted business receipts, books of account, and contemporaneous branch-wise and date-wise records establish their nature and source. Withdrawal of legal-tender status and any breach of demonetisation or banking instructions do not, by themselves, justify an addition under the unexplained-money provisions. For a government-owned liquor retailer, recorded opening cash, sales, deposits, and closing balances supported the deposits, while no contrary evidence established substitution of unaccounted cash. The addition under unexplained-investment provisions was therefore unsustainable. Case-Laws Income Tax Mon, 07 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458846