https://www.taxtmi.com/caselaws?id=781333 ITAT, BANGALORE (AT) allowed the appeal and deleted additions under s.68 r.w.s.115BBE relating to cash deposits of SBNs and other cash during demonetisation, holding the deposits were traceable to declared liquor sales, accepted in audited accounts, bank statements and VAT returns. The Tribunal found the AO/CIT(A)/NFAC relied on conjecture without adverse evidence and that treating deposited sales as unexplained credit would cause double taxation; contravention of RBI notification by accepting SBNs did not, by itself, attract s.68 once sources were proved, so the addition was deleted. en-us Mon, 15 Sep 2025 00:00:00 +0530 Fri, 14 Nov 2025 09:42:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781333 ITAT, BANGALORE (AT) allowed the appeal and deleted additions under s.68 r.w.s.115BBE relating to cash deposits of SBNs and other cash during demonetisation, holding the deposits were traceable to declared liquor sales, accepted in audited accounts, bank statements and VAT returns. The Tribunal found the AO/CIT(A)/NFAC relied on conjecture without adverse evidence and that treating deposited sales as unexplained credit would cause double taxation; contravention of RBI notification by accepting SBNs did not, by itself, attract s.68 once sources were proved, so the addition was deleted. Case-Laws Income Tax Mon, 15 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781333