https://www.taxtmi.com/caselaws?id=773810 ITAT Ahmedabad upheld CIT(A)'s deletion of addition under section 68 for unexplained cash deposits during demonetization. AO rejected books under section 145(3) but failed to identify specific defects in well-maintained records including audited books, stock registers, and VAT returns. Tribunal held that taxing documented sales proceeds under section 68 would constitute impermissible double taxation, as sales were already recorded and taxed. Cash deposits were substantiated through proper documentation and linked to genuine sales transactions accepted by authorities. en-us Mon, 23 Jun 2025 00:00:00 +0530 Sat, 28 Jun 2025 08:31:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773810 ITAT Ahmedabad upheld CIT(A)'s deletion of addition under section 68 for unexplained cash deposits during demonetization. AO rejected books under section 145(3) but failed to identify specific defects in well-maintained records including audited books, stock registers, and VAT returns. Tribunal held that taxing documented sales proceeds under section 68 would constitute impermissible double taxation, as sales were already recorded and taxed. Cash deposits were substantiated through proper documentation and linked to genuine sales transactions accepted by authorities. Case-Laws Income Tax Mon, 23 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773810