https://www.taxtmi.com/caselaws?id=469016 Cash deposits representing explained sale proceeds received in specified bank notes during demonetisation were not treated as unexplained investment under section 69A because the books and audited records substantiated the source, and the same receipts could not be taxed again under section 115BBE. Interest earned by a co-operative society on deposits with co-operative banks was treated as income attributable to its qualifying activities and remained eligible for deduction under section 80P(1). The analysis applies the principle that duly explained business receipts do not become unexplained income merely because they were received in demonetised currency, and that qualifying co-operative income continues to attract section 80P relief. en-us Wed, 15 Jan 2025 00:00:00 +0530 Fri, 29 May 2026 19:02:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469016 Cash deposits representing explained sale proceeds received in specified bank notes during demonetisation were not treated as unexplained investment under section 69A because the books and audited records substantiated the source, and the same receipts could not be taxed again under section 115BBE. Interest earned by a co-operative society on deposits with co-operative banks was treated as income attributable to its qualifying activities and remained eligible for deduction under section 80P(1). The analysis applies the principle that duly explained business receipts do not become unexplained income merely because they were received in demonetised currency, and that qualifying co-operative income continues to attract section 80P relief. Case-Laws Income Tax Wed, 15 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469016