https://www.taxtmi.com/caselaws?id=782628 ITAT Delhi upheld the order of CIT(A) deleting the addition made u/s 68 and rejection of books u/s 145(3) in respect of cash deposits during the demonetization period. The Tribunal accepted the CIT(A)'s findings that purchases were duly disclosed in VAT returns prior to demonetization, proper stock records were maintained, and increased cash sales were explained by introduction of loose diamond trading. It was further held that cash deposits were duly correlated with recorded cash sales, no defects were found in books or cash book, and therefore the cash deposits could not be treated as unexplained. The Revenue's appeal was dismissed. en-us Thu, 30 Oct 2025 00:00:00 +0530 Tue, 02 Dec 2025 08:35:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782628 ITAT Delhi upheld the order of CIT(A) deleting the addition made u/s 68 and rejection of books u/s 145(3) in respect of cash deposits during the demonetization period. The Tribunal accepted the CIT(A)'s findings that purchases were duly disclosed in VAT returns prior to demonetization, proper stock records were maintained, and increased cash sales were explained by introduction of loose diamond trading. It was further held that cash deposits were duly correlated with recorded cash sales, no defects were found in books or cash book, and therefore the cash deposits could not be treated as unexplained. The Revenue's appeal was dismissed. Case-Laws Income Tax Thu, 30 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782628