https://www.taxtmi.com/highlights?id=92247 The HC held that no unexplained money under s.69A arose in respect of the cash-in-hand carried from FY 2015-16 to FY 2016-17 and deposited during demonetisation. The court found an inextricable nexus between disclosed bank withdrawals, advances to third parties, interest receipts and subsequent return of funds evidenced in the assessee's balance sheet and the return of income filed and processed under s.143(1). Absence of a mandatory s.143(2) scrutiny notice rendered the return final for that assessment year, and the AO failed to demonstrate that the cash constituted unexplained income warranting invocation of s.69A. Decision: in favour of the assessee. en-us Fri, 05 Sep 2025 08:10:38 +0530 Fri, 05 Sep 2025 08:10:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=92247 The HC held that no unexplained money under s.69A arose in respect of the cash-in-hand carried from FY 2015-16 to FY 2016-17 and deposited during demonetisation. The court found an inextricable nexus between disclosed bank withdrawals, advances to third parties, interest receipts and subsequent return of funds evidenced in the assessee's balance sheet and the return of income filed and processed under s.143(1). Absence of a mandatory s.143(2) scrutiny notice rendered the return final for that assessment year, and the AO failed to demonstrate that the cash constituted unexplained income warranting invocation of s.69A. Decision: in favour of the assessee. Highlights Income Tax Fri, 05 Sep 2025 08:10:38 +0530 https://www.taxtmi.com/highlights?id=92247