https://www.taxtmi.com/caselaws?id=792501 Cash deposits made during demonetisation were not treated as unexplained where the assessee produced books of account, cash book, purchase register, VAT returns, stock records, bills and audited accounts, and the purchases were accepted without any specific defect; in the absence of contrary material, the corresponding sales could not be added merely because the deposits were made during demonetisation. Unsecured loan additions under section 68 were also deleted where the assessee furnished PAN, confirmations, bank statements and income-tax returns of the lenders, and the loans and interest were routed through banking channels with TDS support; as no independent enquiry was made to rebut the primary evidence, the additions could not be sustained. en-us Mon, 27 Apr 2026 00:00:00 +0530 Fri, 29 May 2026 08:59:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792501 Cash deposits made during demonetisation were not treated as unexplained where the assessee produced books of account, cash book, purchase register, VAT returns, stock records, bills and audited accounts, and the purchases were accepted without any specific defect; in the absence of contrary material, the corresponding sales could not be added merely because the deposits were made during demonetisation. Unsecured loan additions under section 68 were also deleted where the assessee furnished PAN, confirmations, bank statements and income-tax returns of the lenders, and the loans and interest were routed through banking channels with TDS support; as no independent enquiry was made to rebut the primary evidence, the additions could not be sustained. Case-Laws Income Tax Mon, 27 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792501