https://www.taxtmi.com/caselaws?id=772177 The Tribunal partially allowed the tax appeal involving cash deposits during demonetization. While rejecting the full addition of Rs. 8.10 Crores as unexplained cash credits, the court made a nominal addition of Rs. 20 Lakhs to address potential revenue leakage. The decision was based on the assessee's properly maintained books of accounts, audited records, and demonstrated business turnover, emphasizing that unexplained cash credits cannot be added merely on suspicion. en-us Fri, 28 Mar 2025 00:00:00 +0530 Thu, 05 Jun 2025 08:25:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772177 The Tribunal partially allowed the tax appeal involving cash deposits during demonetization. While rejecting the full addition of Rs. 8.10 Crores as unexplained cash credits, the court made a nominal addition of Rs. 20 Lakhs to address potential revenue leakage. The decision was based on the assessee's properly maintained books of accounts, audited records, and demonstrated business turnover, emphasizing that unexplained cash credits cannot be added merely on suspicion. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772177