https://www.taxtmi.com/caselaws?id=774038 ITAT Ahmedabad allowed the assessee's appeal regarding cash deposits during demonetization treated as unexplained money under Section 69A. The assessee successfully proved cash deposits originated from retail sales through corroborative evidence including audited cash books, sales bills, and purchase bills. The AO accepted the books of accounts without rejection under Section 145(3) and included the sales in business income. The Tribunal held that assessing the same amount again as unexplained cash credit would constitute double taxation, making the AO's addition unsustainable in law. en-us Mon, 26 May 2025 00:00:00 +0530 Wed, 02 Jul 2025 08:42:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774038 ITAT Ahmedabad allowed the assessee's appeal regarding cash deposits during demonetization treated as unexplained money under Section 69A. The assessee successfully proved cash deposits originated from retail sales through corroborative evidence including audited cash books, sales bills, and purchase bills. The AO accepted the books of accounts without rejection under Section 145(3) and included the sales in business income. The Tribunal held that assessing the same amount again as unexplained cash credit would constitute double taxation, making the AO's addition unsustainable in law. Case-Laws Income Tax Mon, 26 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774038