https://www.taxtmi.com/caselaws?id=782358 ITAT Ahmedabad allowed the assessee's appeal, deleting the addition made u/s 68 and the consequential tax u/s 115BBE on cash deposits. It held that the assessee's books were duly audited, regularly maintained, and never rejected u/s 145(3), and that cash sales and deposits were fully recorded therein. In absence of any finding that sales were fictitious, cash deposits unexplained, or books unreliable, the Department could not disregard recorded entries on mere suspicion. ITAT also noted that taxing these deposits separately would result in impermissible double taxation. en-us Wed, 30 Jul 2025 00:00:00 +0530 Fri, 28 Nov 2025 08:24:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782358 ITAT Ahmedabad allowed the assessee's appeal, deleting the addition made u/s 68 and the consequential tax u/s 115BBE on cash deposits. It held that the assessee's books were duly audited, regularly maintained, and never rejected u/s 145(3), and that cash sales and deposits were fully recorded therein. In absence of any finding that sales were fictitious, cash deposits unexplained, or books unreliable, the Department could not disregard recorded entries on mere suspicion. ITAT also noted that taxing these deposits separately would result in impermissible double taxation. Case-Laws Income Tax Wed, 30 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782358