https://www.taxtmi.com/caselaws?id=783436 ITAT Amritsar allowed the assessee's appeal and deleted the addition made u/s 69A on account of cash deposits during the demonetization period. The Tribunal held that the assessee had satisfactorily established the nature and source of the cash as arising from genuine business sales, duly recorded in the books of account. It further held that mere violation of RBI/Government notification regarding acceptance of specified bank notes by a non-exempt entity beyond the permitted date does not, by itself, render such deposits "unexplained" for purposes of the Income-tax Act, though separate penal consequences may arise under the RBI Act or the Specified Bank Notes (Cessation of Liabilities) Act, 2017. en-us Thu, 11 Dec 2025 00:00:00 +0530 Tue, 16 Dec 2025 08:19:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783436 ITAT Amritsar allowed the assessee's appeal and deleted the addition made u/s 69A on account of cash deposits during the demonetization period. The Tribunal held that the assessee had satisfactorily established the nature and source of the cash as arising from genuine business sales, duly recorded in the books of account. It further held that mere violation of RBI/Government notification regarding acceptance of specified bank notes by a non-exempt entity beyond the permitted date does not, by itself, render such deposits "unexplained" for purposes of the Income-tax Act, though separate penal consequences may arise under the RBI Act or the Specified Bank Notes (Cessation of Liabilities) Act, 2017. Case-Laws Income Tax Thu, 11 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783436