https://www.taxtmi.com/caselaws?id=792050 Cash deposits during the demonetisation period were not to be taxed as unexplained cash credits under section 68 where the assessee supported the deposits with cash book entries, stock details, purchase and sales records, and evidence of bank withdrawals. The lower authorities did not dispute turnover, trading results, or stock position, and no specific defect in the books or adverse material was brought on record. On those facts, applying section 68 and consequential section 115BBE would amount to taxing the same receipts twice, which was impermissible. The addition was deleted in favour of the assessee. en-us Wed, 22 Apr 2026 00:00:00 +0530 Fri, 22 May 2026 07:06:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792050 Cash deposits during the demonetisation period were not to be taxed as unexplained cash credits under section 68 where the assessee supported the deposits with cash book entries, stock details, purchase and sales records, and evidence of bank withdrawals. The lower authorities did not dispute turnover, trading results, or stock position, and no specific defect in the books or adverse material was brought on record. On those facts, applying section 68 and consequential section 115BBE would amount to taxing the same receipts twice, which was impermissible. The addition was deleted in favour of the assessee. Case-Laws Income Tax Wed, 22 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792050