https://www.taxtmi.com/caselaws?id=782424 ITAT Mumbai allowed the assessee's appeal and deleted the addition made as unexplained money under s.69 in respect of cash deposits of specified bank notes during the demonetisation period. The Tribunal noted that 80-90% of the petrol pump's sales were consistently in cash over several years and that the AO had accepted the books of account and cash sales as recorded. Once the source of cash deposits is accepted as cash sales and books are not rejected, the cash deposits cannot be treated as unexplained merely because receipt of SBN allegedly violated Government circulars. The addition under s.69/68 was held unsustainable. en-us Fri, 10 Oct 2025 00:00:00 +0530 Fri, 28 Nov 2025 14:11:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782424 ITAT Mumbai allowed the assessee's appeal and deleted the addition made as unexplained money under s.69 in respect of cash deposits of specified bank notes during the demonetisation period. The Tribunal noted that 80-90% of the petrol pump's sales were consistently in cash over several years and that the AO had accepted the books of account and cash sales as recorded. Once the source of cash deposits is accepted as cash sales and books are not rejected, the cash deposits cannot be treated as unexplained merely because receipt of SBN allegedly violated Government circulars. The addition under s.69/68 was held unsustainable. Case-Laws Income Tax Fri, 10 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782424