https://www.taxtmi.com/caselaws?id=772790 The SC/Tribunal examined a tax case involving unexplained cash deposits during demonetization. The key issue was the tax treatment of Rs. 1,17,92,810/- deposited by a BPCL retail outlet. Despite the appellate authority's partial deletion, the Tribunal restored the full addition as unexplained money, emphasizing that business status cannot substitute for evidentiary proof. The ruling underscored the assessee's burden to substantiate cash deposits, and non-compliance with statutory notices justifies treating the entire amount as unexplained under sections 69A and 115BBE of the Income Tax Act. en-us Wed, 11 Jun 2025 00:00:00 +0530 Fri, 13 Jun 2025 08:41:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772790 The SC/Tribunal examined a tax case involving unexplained cash deposits during demonetization. The key issue was the tax treatment of Rs. 1,17,92,810/- deposited by a BPCL retail outlet. Despite the appellate authority's partial deletion, the Tribunal restored the full addition as unexplained money, emphasizing that business status cannot substitute for evidentiary proof. The ruling underscored the assessee's burden to substantiate cash deposits, and non-compliance with statutory notices justifies treating the entire amount as unexplained under sections 69A and 115BBE of the Income Tax Act. Case-Laws Income Tax Wed, 11 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772790