https://www.taxtmi.com/caselaws?id=466719 Addition treating deposits of specified bank notes during demonetization as unexplained cash credits under section 68 was contested. The taxpayer produced cash book entries, deposit slips, balance sheet and audit report showing part of the cash pre-existed demonetization and a smaller sum was received from a member; books were not rejected and no adverse material was recorded by the assessing officer. Applying the principle that documented deposits supported by books not rejected cannot be treated as unexplained credits, the addition of Rs. 6,19,500 was deleted. en-us Tue, 25 Feb 2025 00:00:00 +0530 Tue, 17 Feb 2026 19:25:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466719 Addition treating deposits of specified bank notes during demonetization as unexplained cash credits under section 68 was contested. The taxpayer produced cash book entries, deposit slips, balance sheet and audit report showing part of the cash pre-existed demonetization and a smaller sum was received from a member; books were not rejected and no adverse material was recorded by the assessing officer. Applying the principle that documented deposits supported by books not rejected cannot be treated as unexplained credits, the addition of Rs. 6,19,500 was deleted. Case-Laws Income Tax Tue, 25 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466719