https://www.taxtmi.com/caselaws?id=772043 The ITAT Delhi ruled in favor of the assessee regarding cash deposits made during demonetization period. The assessee had declared income on presumptive basis with total sales of Rs. 49,03,470/- including cash sales of Rs. 30,25,930/-. VAT returns matched the declared turnover and were accepted by VAT authorities. The tribunal found that cash deposited during demonetization came from legitimate cash sales already included in total sales and taxed. Adding the same under section 69A would constitute double taxation. Following precedent in ACIT v. Ramlal Jewellers, the ITAT deleted the addition made under section 69A. en-us Fri, 30 May 2025 00:00:00 +0530 Tue, 03 Jun 2025 08:50:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772043 The ITAT Delhi ruled in favor of the assessee regarding cash deposits made during demonetization period. The assessee had declared income on presumptive basis with total sales of Rs. 49,03,470/- including cash sales of Rs. 30,25,930/-. VAT returns matched the declared turnover and were accepted by VAT authorities. The tribunal found that cash deposited during demonetization came from legitimate cash sales already included in total sales and taxed. Adding the same under section 69A would constitute double taxation. Following precedent in ACIT v. Ramlal Jewellers, the ITAT deleted the addition made under section 69A. Case-Laws Income Tax Fri, 30 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772043