https://www.taxtmi.com/caselaws?id=467989 Cash deposits during the demonetisation period were treated as explained where the assessee produced cash book, stock register, sales invoices, bank statements and VAT returns showing substantial cash sales and adequate cash balance. In the absence of rejected books, any defect in sales or stock records, or a finding that demonetised currency had been received, the deposits could not be added as unexplained income. An estimate of allowable cash sales based on an earlier year's average was found misconceived and unsupported by the year's actual figures, so the addition was deleted. en-us Tue, 13 Feb 2024 00:00:00 +0530 Sat, 11 Apr 2026 10:04:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467989 Cash deposits during the demonetisation period were treated as explained where the assessee produced cash book, stock register, sales invoices, bank statements and VAT returns showing substantial cash sales and adequate cash balance. In the absence of rejected books, any defect in sales or stock records, or a finding that demonetised currency had been received, the deposits could not be added as unexplained income. An estimate of allowable cash sales based on an earlier year's average was found misconceived and unsupported by the year's actual figures, so the addition was deleted. Case-Laws Income Tax Tue, 13 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467989