https://www.taxtmi.com/caselaws?id=788342 Whether deposits of demonetised banknotes can be treated as unexplained cash credits under section 68 was addressed by examining whether the assessee furnished identification of creditors, books of account, bank entries, purchase invoices, stock records and comparative sales data; where statutory identification and source explanations were met, purchases were through banking channels, stock availability supported sales and profit on sales was offered to tax, regulatory contravention alone did not convert recorded sales into unexplained income; consequence: the addition under section 68 was held unsustainable and deleted in favour of the assessee. en-us Tue, 03 Feb 2026 00:00:00 +0530 Fri, 20 Mar 2026 08:35:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788342 Whether deposits of demonetised banknotes can be treated as unexplained cash credits under section 68 was addressed by examining whether the assessee furnished identification of creditors, books of account, bank entries, purchase invoices, stock records and comparative sales data; where statutory identification and source explanations were met, purchases were through banking channels, stock availability supported sales and profit on sales was offered to tax, regulatory contravention alone did not convert recorded sales into unexplained income; consequence: the addition under section 68 was held unsustainable and deleted in favour of the assessee. Case-Laws Income Tax Tue, 03 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788342