https://www.taxtmi.com/caselaws?id=782794 ITAT Kolkata allowed the assessee's appeal, setting aside the order of CIT(A) sustaining addition u/s 68 and taxation u/s 115BBE. The Tribunal held that the cash deposits during the demonetization period represented professional receipts from medical practice, which were duly recorded and partially received in cash, as explained during assessment. The AO had already tabulated cash receipts and corresponding bank deposits, establishing that the funds were accounted money. Consequently, the conditions for invoking s.68 and taxing the amount at 60% u/s 115BBE were not satisfied. en-us Tue, 26 Aug 2025 00:00:00 +0530 Thu, 04 Dec 2025 09:19:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782794 ITAT Kolkata allowed the assessee's appeal, setting aside the order of CIT(A) sustaining addition u/s 68 and taxation u/s 115BBE. The Tribunal held that the cash deposits during the demonetization period represented professional receipts from medical practice, which were duly recorded and partially received in cash, as explained during assessment. The AO had already tabulated cash receipts and corresponding bank deposits, establishing that the funds were accounted money. Consequently, the conditions for invoking s.68 and taxing the amount at 60% u/s 115BBE were not satisfied. Case-Laws Income Tax Tue, 26 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782794