https://www.taxtmi.com/highlights?id=88985 ITAT adjudicated a tax dispute involving undeclared cash sales and demonetized currency (SBN). The tribunal partially sustained the tax addition, finding the assessee unable to substantiate complete cash sales documentation. While acknowledging prior tax declarations on cash sales, the tribunal rejected total taxation of cash deposits. Critically, the tribunal determined that section 69A provisions were inapplicable, consequently rendering section 115BBE tax provisions ineffective. The appellate ruling ultimately favored the assessee, allowing their appeal and partially deleting the proposed tax assessment, thereby providing significant relief against excessive taxation of unsubstantiated cash transactions. en-us Mon, 02 Jun 2025 08:34:44 +0530 Mon, 02 Jun 2025 08:34:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=88985 ITAT adjudicated a tax dispute involving undeclared cash sales and demonetized currency (SBN). The tribunal partially sustained the tax addition, finding the assessee unable to substantiate complete cash sales documentation. While acknowledging prior tax declarations on cash sales, the tribunal rejected total taxation of cash deposits. Critically, the tribunal determined that section 69A provisions were inapplicable, consequently rendering section 115BBE tax provisions ineffective. The appellate ruling ultimately favored the assessee, allowing their appeal and partially deleting the proposed tax assessment, thereby providing significant relief against excessive taxation of unsubstantiated cash transactions. Highlights Income Tax Mon, 02 Jun 2025 08:34:44 +0530 https://www.taxtmi.com/highlights?id=88985