https://www.taxtmi.com/caselaws?id=786777 Whether receipts of specified bank notes during demonetisation could be treated as unexplained cash credit was considered: where the taxpayer (a cooperative credit society) produced records establishing identity of depositors, genuineness of transactions and entries in regular books, the legal principle under Section 68 shifts the burden to the tax officer to disprove source, purpose or genuineness; mere acceptance of demonetised notes, without independent disproof, does not convert those receipts into unexplained income. The appellate deletion of the addition was sustained and the revenue appeal dismissed. en-us Fri, 13 Feb 2026 00:00:00 +0530 Thu, 19 Feb 2026 07:58:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786777 Whether receipts of specified bank notes during demonetisation could be treated as unexplained cash credit was considered: where the taxpayer (a cooperative credit society) produced records establishing identity of depositors, genuineness of transactions and entries in regular books, the legal principle under Section 68 shifts the burden to the tax officer to disprove source, purpose or genuineness; mere acceptance of demonetised notes, without independent disproof, does not convert those receipts into unexplained income. The appellate deletion of the addition was sustained and the revenue appeal dismissed. Case-Laws Income Tax Fri, 13 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786777