https://www.taxtmi.com/caselaws?id=762792 Cash deposits during the demonetisation period were held to be explainable where they were fully traceable to sales and debtor collections recorded in accepted books of account. On those facts, section 69A could not be used to treat the same receipts as unexplained income, because the assessee had discharged the burden of proving source and the department produced no contrary evidence. The objection based solely on the legal status of specified bank notes also failed, as dealings up to the appointed date were not barred in a manner that displaced a duly supported explanation. The addition under section 69A read with section 115BBE was therefore unsustainable and deleted. en-us Fri, 30 Aug 2024 00:00:00 +0530 Sat, 07 Dec 2024 08:14:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762792 Cash deposits during the demonetisation period were held to be explainable where they were fully traceable to sales and debtor collections recorded in accepted books of account. On those facts, section 69A could not be used to treat the same receipts as unexplained income, because the assessee had discharged the burden of proving source and the department produced no contrary evidence. The objection based solely on the legal status of specified bank notes also failed, as dealings up to the appointed date were not barred in a manner that displaced a duly supported explanation. The addition under section 69A read with section 115BBE was therefore unsustainable and deleted. Case-Laws Income Tax Fri, 30 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762792