https://www.taxtmi.com/caselaws?id=459139 Cash deposits of specified bank notes made after demonetisation, though claimed as business sales proceeds, were treated as unexplained money where the notes had ceased to be legal tender from 9 November 2016. Receipt of such currency in trade after that date could not substantiate the claimed source of deposits. The deposits therefore fell within the scope of unexplained money under section 69A and attracted taxation under section 115BBE. The addition and consequential tax treatment were upheld against the assessee. en-us Fri, 16 Jun 2023 00:00:00 +0530 Mon, 02 Dec 2024 10:37:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459139 Cash deposits of specified bank notes made after demonetisation, though claimed as business sales proceeds, were treated as unexplained money where the notes had ceased to be legal tender from 9 November 2016. Receipt of such currency in trade after that date could not substantiate the claimed source of deposits. The deposits therefore fell within the scope of unexplained money under section 69A and attracted taxation under section 115BBE. The addition and consequential tax treatment were upheld against the assessee. Case-Laws Income Tax Fri, 16 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459139