https://www.taxtmi.com/caselaws?id=788736 Cash deposits during the demonetisation period were treated as explained business receipts where the assessee produced cash book entries, bank statements, cash sales details, VAT returns and audited financial statements, and the books of account were not rejected. On those facts, an addition based only on the deposits was held unsustainable because the sales had already been accepted as recorded turnover, and taxing the same receipts again would amount to duplicative taxation. Reference to section 40A(3) did not displace the evidentiary value of the records supporting the source of the cash deposits. en-us Wed, 25 Mar 2026 00:00:00 +0530 Fri, 27 Mar 2026 08:52:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788736 Cash deposits during the demonetisation period were treated as explained business receipts where the assessee produced cash book entries, bank statements, cash sales details, VAT returns and audited financial statements, and the books of account were not rejected. On those facts, an addition based only on the deposits was held unsustainable because the sales had already been accepted as recorded turnover, and taxing the same receipts again would amount to duplicative taxation. Reference to section 40A(3) did not displace the evidentiary value of the records supporting the source of the cash deposits. Case-Laws Income Tax Wed, 25 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788736