https://www.taxtmi.com/caselaws?id=782128 ITAT Ahmedabad held that cash deposits made during the demonetization period could not be treated as unexplained income u/s 69A. The assessee, operating a petrol pump, produced relevant records evidencing sales, including cash sales during the demonetization window. The Tribunal noted that petrol pumps were permitted to accept demonetized currency and that the slight increase in cash sales during this period was normal and commensurate with overall annual sales. Since the assessee established that the bank deposits were sourced from recorded cash sales, the additions made and confirmed by the lower authorities were unjustified. The additions were deleted and the assessee's appeal was allowed. en-us Thu, 16 Oct 2025 00:00:00 +0530 Tue, 25 Nov 2025 08:55:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782128 ITAT Ahmedabad held that cash deposits made during the demonetization period could not be treated as unexplained income u/s 69A. The assessee, operating a petrol pump, produced relevant records evidencing sales, including cash sales during the demonetization window. The Tribunal noted that petrol pumps were permitted to accept demonetized currency and that the slight increase in cash sales during this period was normal and commensurate with overall annual sales. Since the assessee established that the bank deposits were sourced from recorded cash sales, the additions made and confirmed by the lower authorities were unjustified. The additions were deleted and the assessee's appeal was allowed. Case-Laws Income Tax Thu, 16 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782128