https://www.taxtmi.com/caselaws?id=468052 Cash deposits made during the demonetisation period could not be treated as unexplained income where the assessee, a petrol pump operator, had disclosed cash sales, maintained sales vouchers and filed VAT returns. The Revenue failed to produce material showing that the declared cash sales or opening cash in hand were fictitious. The cash flow prepared by the Assessing Officer was unsound because it ignored opening cash balance and selectively treated only the November 2016 negative balance as unexplained. In the absence of evidence disproving the cash sales and opening cash balance, the addition under section 69A of the Income-tax Act, 1961 was deleted. en-us Mon, 23 Sep 2024 00:00:00 +0530 Tue, 14 Apr 2026 21:12:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468052 Cash deposits made during the demonetisation period could not be treated as unexplained income where the assessee, a petrol pump operator, had disclosed cash sales, maintained sales vouchers and filed VAT returns. The Revenue failed to produce material showing that the declared cash sales or opening cash in hand were fictitious. The cash flow prepared by the Assessing Officer was unsound because it ignored opening cash balance and selectively treated only the November 2016 negative balance as unexplained. In the absence of evidence disproving the cash sales and opening cash balance, the addition under section 69A of the Income-tax Act, 1961 was deleted. Case-Laws Income Tax Mon, 23 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468052