https://www.taxtmi.com/caselaws?id=467991 Cash deposits during the demonetization period were treated as sufficiently explained by business receipts from festive and marriage season sales. Audited books, stock summaries showing opening and closing inventory, and unaltered VAT returns supported the assessee's explanation, while no defect in the accounts or evidence of inflated sales was found. On these facts, the deeming addition under section 68, with section 115BBE, was held unsustainable and was deleted in favour of the assessee. en-us Tue, 02 Jan 2024 00:00:00 +0530 Sat, 11 Apr 2026 10:42:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467991 Cash deposits during the demonetization period were treated as sufficiently explained by business receipts from festive and marriage season sales. Audited books, stock summaries showing opening and closing inventory, and unaltered VAT returns supported the assessee's explanation, while no defect in the accounts or evidence of inflated sales was found. On these facts, the deeming addition under section 68, with section 115BBE, was held unsustainable and was deleted in favour of the assessee. Case-Laws Income Tax Tue, 02 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467991