https://www.taxtmi.com/caselaws?id=782365 ITAT allowed the assessee's appeal and deleted the addition made u/s 68 r.w.s. 115BBE on cash deposits during the demonetization period. The Tribunal held that a pragmatic approach was required, noting that petrol pumps fell within exempted categories and continued to receive specified bank notes to avoid loss of business, consistent with the objectives of demonetization. It observed that the assessee, being a regulated fuel dealer subject to scrutiny by VAT and District Supply authorities, maintained books without any defects pointed out by the AO. As the AO made the addition solely on the basis of the notification, without factual analysis of sales, stock, or cash balances, the order was found unsustainable in law and the addition was directed to be deleted. en-us Tue, 30 Sep 2025 00:00:00 +0530 Fri, 28 Nov 2025 08:24:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782365 ITAT allowed the assessee's appeal and deleted the addition made u/s 68 r.w.s. 115BBE on cash deposits during the demonetization period. The Tribunal held that a pragmatic approach was required, noting that petrol pumps fell within exempted categories and continued to receive specified bank notes to avoid loss of business, consistent with the objectives of demonetization. It observed that the assessee, being a regulated fuel dealer subject to scrutiny by VAT and District Supply authorities, maintained books without any defects pointed out by the AO. As the AO made the addition solely on the basis of the notification, without factual analysis of sales, stock, or cash balances, the order was found unsustainable in law and the addition was directed to be deleted. Case-Laws Income Tax Tue, 30 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782365