https://www.taxtmi.com/caselaws?id=789647 Cash deposits made during the demonetization period were held not taxable as unexplained credits where the assessee maintained audited books, reported recorded cash sales, and demonstrated adequate cash availability through cash flow statements, bank records, and supporting business documents. The ITAT found that the Assessing Officer relied mainly on the timing and manner of deposits, but did not produce contrary evidence to show that the deposits were not sourced from disclosed business receipts. On that factual basis, the addition under section 68 was found unsustainable and was deleted. en-us Thu, 12 Feb 2026 00:00:00 +0530 Sat, 11 Apr 2026 08:53:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789647 Cash deposits made during the demonetization period were held not taxable as unexplained credits where the assessee maintained audited books, reported recorded cash sales, and demonstrated adequate cash availability through cash flow statements, bank records, and supporting business documents. The ITAT found that the Assessing Officer relied mainly on the timing and manner of deposits, but did not produce contrary evidence to show that the deposits were not sourced from disclosed business receipts. On that factual basis, the addition under section 68 was found unsustainable and was deleted. Case-Laws Income Tax Thu, 12 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789647