https://www.taxtmi.com/caselaws?id=771581 Cash deposits comprising Specified Bank Notes during the demonetisation transition period cannot be treated as unexplained income merely because such notes were received and deposited before the statutory prohibition became operative. Where turnover, cash-sales history, and cash-in-hand explanation are established and undisputed, the business source satisfactorily explains the deposits. The prohibition under the Specified Bank Notes (Cessation of Liabilities) Act, 2017 applied from the appointed day; receipt and deposit before that date did not independently support an addition under section 69A. The cash-deposit addition was therefore unsustainable and deleted. en-us Fri, 21 Mar 2025 00:00:00 +0530 Tue, 27 May 2025 16:19:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771581 Cash deposits comprising Specified Bank Notes during the demonetisation transition period cannot be treated as unexplained income merely because such notes were received and deposited before the statutory prohibition became operative. Where turnover, cash-sales history, and cash-in-hand explanation are established and undisputed, the business source satisfactorily explains the deposits. The prohibition under the Specified Bank Notes (Cessation of Liabilities) Act, 2017 applied from the appointed day; receipt and deposit before that date did not independently support an addition under section 69A. The cash-deposit addition was therefore unsustainable and deleted. Case-Laws Income Tax Fri, 21 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771581