https://www.taxtmi.com/caselaws?id=769844 Cash deposits made during the demonetisation period were treated as explained where the assessee's jewellery sales were duly recorded in books, supported by sale invoices, stock registers and VAT returns. The Tribunal found that opening stock, purchases and closing stock were not rejected, substantial deposits were linked to recorded sales and customer receipts, and the Revenue had not carried out effective third-party verification. On the touchstone of surrounding circumstances and human probabilities, the recorded cash sales were not shown to be fictitious, so the addition as unexplained cash credit was deleted. en-us Tue, 29 Apr 2025 00:00:00 +0530 Fri, 05 Jun 2026 12:44:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769844 Cash deposits made during the demonetisation period were treated as explained where the assessee's jewellery sales were duly recorded in books, supported by sale invoices, stock registers and VAT returns. The Tribunal found that opening stock, purchases and closing stock were not rejected, substantial deposits were linked to recorded sales and customer receipts, and the Revenue had not carried out effective third-party verification. On the touchstone of surrounding circumstances and human probabilities, the recorded cash sales were not shown to be fictitious, so the addition as unexplained cash credit was deleted. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769844