https://www.taxtmi.com/caselaws?id=772352 Additions treating bank deposits during demonetization as unexplained income were rejected where the assessee's audited books under audit rule were accepted and cash sales were recorded and considered in assessed income; the assessing officer made no finding that stock, purchases, or sales invoices were bogus, and overthecounter customers cannot be compelled to produce identification within lawful transaction limits. The tribunal upheld the CIT(A)'s view that deposits reflecting recorded cash sales do not automatically constitute undisclosed income, and thus the revenue's grounds for addition were dismissed. en-us Wed, 30 Apr 2025 00:00:00 +0530 Thu, 05 Feb 2026 09:59:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772352 Additions treating bank deposits during demonetization as unexplained income were rejected where the assessee's audited books under audit rule were accepted and cash sales were recorded and considered in assessed income; the assessing officer made no finding that stock, purchases, or sales invoices were bogus, and overthecounter customers cannot be compelled to produce identification within lawful transaction limits. The tribunal upheld the CIT(A)'s view that deposits reflecting recorded cash sales do not automatically constitute undisclosed income, and thus the revenue's grounds for addition were dismissed. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772352