https://www.taxtmi.com/caselaws?id=774237 ITAT Delhi upheld CIT(A)'s decision to delete addition under section 68 regarding cash deposits made during demonetization period. Assessee's cash deposits were from recorded cash sales in books of account, accepted by Sales Tax/VAT Department, with no specific defects found by AO. Tribunal held addition based solely on suspicion without evidence is unsustainable, as demonetization period alone cannot justify suspecting genuine business transactions. AO incorrectly applied section 115BBE which became effective only from 15.12.2016. Since sales were properly recorded, not disputed, and assessee had adequate stock during festive season, the addition lacked merit and was rightfully deleted. en-us Fri, 27 Jun 2025 00:00:00 +0530 Fri, 04 Jul 2025 18:03:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774237 ITAT Delhi upheld CIT(A)'s decision to delete addition under section 68 regarding cash deposits made during demonetization period. Assessee's cash deposits were from recorded cash sales in books of account, accepted by Sales Tax/VAT Department, with no specific defects found by AO. Tribunal held addition based solely on suspicion without evidence is unsustainable, as demonetization period alone cannot justify suspecting genuine business transactions. AO incorrectly applied section 115BBE which became effective only from 15.12.2016. Since sales were properly recorded, not disputed, and assessee had adequate stock during festive season, the addition lacked merit and was rightfully deleted. Case-Laws Income Tax Fri, 27 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774237