https://www.taxtmi.com/caselaws?id=468820 Cash deposits during the demonetisation period were held not to attract section 68 where the assessee substantiated the source through cash book details, audited accounts and an affidavit, and the books were neither rejected nor shown to be defective. The addition was found unsustainable because the Revenue relied on suspicion and conjecture without cogent contrary material or specific discrepancies in the explanation. Verifiable cash in hand reflected in the accounts could not be treated as unexplained cash credit merely on preponderance of probability alone. The addition was therefore deleted in favour of the assessee. en-us Fri, 22 Aug 2025 00:00:00 +0530 Wed, 20 May 2026 14:22:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468820 Cash deposits during the demonetisation period were held not to attract section 68 where the assessee substantiated the source through cash book details, audited accounts and an affidavit, and the books were neither rejected nor shown to be defective. The addition was found unsustainable because the Revenue relied on suspicion and conjecture without cogent contrary material or specific discrepancies in the explanation. Verifiable cash in hand reflected in the accounts could not be treated as unexplained cash credit merely on preponderance of probability alone. The addition was therefore deleted in favour of the assessee. Case-Laws Income Tax Fri, 22 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468820