https://www.taxtmi.com/caselaws?id=469042 Cash deposits during demonetisation were held not to justify an addition under section 68 read with section 115BBE where a bullion dealer supported the deposits with regular books, stock records, audited accounts, sale invoices, cash book entries and reflected cash sales. The books were not rejected, no specific defect in purchases, stock or sales was established, and the revenue failed to rebut the explanation with cogent material. The analysis notes that additions based only on suspicion or probabilities are impermissible, and taxing the sale proceeds again would amount to double taxation. The impugned addition was deleted and the revenue appeal dismissed. en-us Fri, 28 Mar 2025 00:00:00 +0530 Sat, 30 May 2026 20:39:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469042 Cash deposits during demonetisation were held not to justify an addition under section 68 read with section 115BBE where a bullion dealer supported the deposits with regular books, stock records, audited accounts, sale invoices, cash book entries and reflected cash sales. The books were not rejected, no specific defect in purchases, stock or sales was established, and the revenue failed to rebut the explanation with cogent material. The analysis notes that additions based only on suspicion or probabilities are impermissible, and taxing the sale proceeds again would amount to double taxation. The impugned addition was deleted and the revenue appeal dismissed. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469042