https://www.taxtmi.com/caselaws?id=769299 ITAT Mumbai upheld addition under section 69A for unexplained cash deposits during demonetization period, finding the assessee created a facade to explain unaccounted money through purported bullion sales. The tribunal sustained rejection of books under section 145 and profit estimation at 0.1% GP rate. However, it allowed bad debts claim under section 36(1)(vii), deleted notional commission addition by CIT(A) as presumptive, and ruled section 115BBE's 60% tax rate applies only from April 1, 2017, not to prior transactions which attract 30% tax. en-us Mon, 07 Apr 2025 00:00:00 +0530 Wed, 23 Apr 2025 09:09:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769299 ITAT Mumbai upheld addition under section 69A for unexplained cash deposits during demonetization period, finding the assessee created a facade to explain unaccounted money through purported bullion sales. The tribunal sustained rejection of books under section 145 and profit estimation at 0.1% GP rate. However, it allowed bad debts claim under section 36(1)(vii), deleted notional commission addition by CIT(A) as presumptive, and ruled section 115BBE's 60% tax rate applies only from April 1, 2017, not to prior transactions which attract 30% tax. Case-Laws Income Tax Mon, 07 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769299