https://www.taxtmi.com/caselaws?id=784312 Addition under s. 68/69 for cash deposits during the demonetization period was examined where the AO treated reported cash sales as unexplained solely because they exceeded prior average cash sales. The ITAT held that sales during the festive season and demonetization could legitimately be higher, and the assessee had already recorded the sales in books and offered them to tax. Treating the corresponding cash receipts again as unexplained would result in impermissible double taxation, particularly when stock movement and sales reconciled with the book results and no cogent adverse material was produced. The addition was deleted and the appeal was allowed. en-us Mon, 13 Oct 2025 00:00:00 +0530 Fri, 02 Jan 2026 07:51:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784312 Addition under s. 68/69 for cash deposits during the demonetization period was examined where the AO treated reported cash sales as unexplained solely because they exceeded prior average cash sales. The ITAT held that sales during the festive season and demonetization could legitimately be higher, and the assessee had already recorded the sales in books and offered them to tax. Treating the corresponding cash receipts again as unexplained would result in impermissible double taxation, particularly when stock movement and sales reconciled with the book results and no cogent adverse material was produced. The addition was deleted and the appeal was allowed. Case-Laws Income Tax Mon, 13 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784312