https://www.taxtmi.com/caselaws?id=462307 Cash deposits during demonetisation, received from members in the ordinary course of business and recorded in the books, do not become unexplained money merely because they comprised specified bank notes accepted after 8 November 2016. Where the source of the deposits is established and undisputed, section 69A cannot apply solely because the recipient was not authorised to accept specified bank notes after demonetisation. The Specified Bank Notes (Cessation of Liabilities) Act, 2017 does not support characterising such explained deposits as unexplained money. The section 69A addition was therefore deleted. en-us Thu, 12 Sep 2024 00:00:00 +0530 Tue, 10 Jun 2025 10:49:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462307 Cash deposits during demonetisation, received from members in the ordinary course of business and recorded in the books, do not become unexplained money merely because they comprised specified bank notes accepted after 8 November 2016. Where the source of the deposits is established and undisputed, section 69A cannot apply solely because the recipient was not authorised to accept specified bank notes after demonetisation. The Specified Bank Notes (Cessation of Liabilities) Act, 2017 does not support characterising such explained deposits as unexplained money. The section 69A addition was therefore deleted. Case-Laws Income Tax Thu, 12 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462307