https://www.taxtmi.com/caselaws?id=786061 Unexplained cash deposits during the demonetisation period were treated as alleged cash sales where the assessee's regular business and books of account were not disputed. Because the demonetisation declaration created abnormal panic affecting normal business patterns, the tribunal accepted that cash deposits likely arose from business cash sales in absence of contrary material. However, due to insufficient documentary details despite opportunities to produce them, the tribunal estimated taxable income at 8% of the alleged cash sales. The outcome was partly in favour of the assessee by recognising business source but permitting an estimated addition on limited particulars. en-us Wed, 28 Jan 2026 00:00:00 +0530 Thu, 05 Feb 2026 09:16:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786061 Unexplained cash deposits during the demonetisation period were treated as alleged cash sales where the assessee's regular business and books of account were not disputed. Because the demonetisation declaration created abnormal panic affecting normal business patterns, the tribunal accepted that cash deposits likely arose from business cash sales in absence of contrary material. However, due to insufficient documentary details despite opportunities to produce them, the tribunal estimated taxable income at 8% of the alleged cash sales. The outcome was partly in favour of the assessee by recognising business source but permitting an estimated addition on limited particulars. Case-Laws Income Tax Wed, 28 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786061