https://www.taxtmi.com/caselaws?id=768227 Cash deposits made during the demonetization period were explained as receipts from a cash-intensive liquor business, supported by sales records and bank statements, and the revenue did not dispute the underlying sales. The Tribunal noted that although old notes ceased to be legal tender from 08.11.2016, the statutory regime governing specified bank notes allowed holding or receiving such notes until the appointed day, 31.12.2016. On that footing, the explanation for the deposits was accepted and the treatment of the sums as unexplained money under section 69A was found unsustainable, with the consequential tax under section 115BB also deleted. en-us Fri, 21 Mar 2025 00:00:00 +0530 Thu, 03 Apr 2025 07:50:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768227 Cash deposits made during the demonetization period were explained as receipts from a cash-intensive liquor business, supported by sales records and bank statements, and the revenue did not dispute the underlying sales. The Tribunal noted that although old notes ceased to be legal tender from 08.11.2016, the statutory regime governing specified bank notes allowed holding or receiving such notes until the appointed day, 31.12.2016. On that footing, the explanation for the deposits was accepted and the treatment of the sums as unexplained money under section 69A was found unsustainable, with the consequential tax under section 115BB also deleted. Case-Laws Income Tax Fri, 21 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768227