https://www.taxtmi.com/caselaws?id=766052 The ITAT Jaipur held that cash sales properly recorded in books cannot be treated as unexplained cash deposits under section 68 merely because the assessee deposited cash on a single day during demonetization (13.11.2016). Since the assessee provided all required supporting details and the AO had already accepted part of the sales based on the same records, the addition treating recorded sales as unexplained deposits was deleted. The appeal was allowed in favor of the assessee. en-us Tue, 21 Jan 2025 00:00:00 +0530 Sat, 15 Feb 2025 10:55:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766052 The ITAT Jaipur held that cash sales properly recorded in books cannot be treated as unexplained cash deposits under section 68 merely because the assessee deposited cash on a single day during demonetization (13.11.2016). Since the assessee provided all required supporting details and the AO had already accepted part of the sales based on the same records, the addition treating recorded sales as unexplained deposits was deleted. The appeal was allowed in favor of the assessee. Case-Laws Income Tax Tue, 21 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766052