https://www.taxtmi.com/caselaws?id=786346 Assessment challenged an addition for unexplained cash deposits during demonetisation. Tribunal found that the taxpayer produced day-to-day cash book and bank statements, negating any permissible presumption of unrecorded income; the Assessing Officer proceeded on an incorrect proposition and did not identify specific false entries. The tribunal nevertheless regarded certain submissions as self serving and noted inconsistencies, applying a proportional adjustment to account for evidentiary weakness. Consequence: addition reduced by allowing records but disallowing 10% of the reported deposits, quantified as Rs.84,650, and the appeal was partly allowed. en-us Mon, 09 Feb 2026 00:00:00 +0530 Wed, 11 Feb 2026 09:36:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786346 Assessment challenged an addition for unexplained cash deposits during demonetisation. Tribunal found that the taxpayer produced day-to-day cash book and bank statements, negating any permissible presumption of unrecorded income; the Assessing Officer proceeded on an incorrect proposition and did not identify specific false entries. The tribunal nevertheless regarded certain submissions as self serving and noted inconsistencies, applying a proportional adjustment to account for evidentiary weakness. Consequence: addition reduced by allowing records but disallowing 10% of the reported deposits, quantified as Rs.84,650, and the appeal was partly allowed. Case-Laws Income Tax Mon, 09 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786346