https://www.taxtmi.com/caselaws?id=786979 Addition of alleged unexplained cash deposits during the demonetisation period cannot be sustained where the assessee produced audited books, trading account showing turnover, VAT returns, cash book entries and sales and purchase registers that corroborate recorded cash sales; the assessing officer recorded no adverse finding on stock and produced no contradictory evidence. The legal principle applied is that unexplained deposits may be treated as income only where not satisfactorily explained, and additions cannot rest on conjecture; accordingly the contested addition was deleted and income directed to be recomputed. en-us Wed, 18 Feb 2026 00:00:00 +0530 Tue, 24 Feb 2026 08:36:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786979 Addition of alleged unexplained cash deposits during the demonetisation period cannot be sustained where the assessee produced audited books, trading account showing turnover, VAT returns, cash book entries and sales and purchase registers that corroborate recorded cash sales; the assessing officer recorded no adverse finding on stock and produced no contradictory evidence. The legal principle applied is that unexplained deposits may be treated as income only where not satisfactorily explained, and additions cannot rest on conjecture; accordingly the contested addition was deleted and income directed to be recomputed. Case-Laws Income Tax Wed, 18 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786979