https://www.taxtmi.com/caselaws?id=792830 Cash deposits during demonetisation were explained as recorded sale proceeds from jewellery sales supported by audited books, stock registers, purchase records, cash book, bank statements and VAT data. With no specific defect shown in the books or stock tally, rejection of accounts under section 145(3) rested only on suspicion. On that basis, the deposits could not be treated as unexplained money under section 69A, especially where the amounts had already formed part of turnover and a further addition would amount to double taxation. The assessee's explanation was accepted and the addition was deleted. en-us Fri, 15 May 2026 00:00:00 +0530 Thu, 04 Jun 2026 08:37:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792830 Cash deposits during demonetisation were explained as recorded sale proceeds from jewellery sales supported by audited books, stock registers, purchase records, cash book, bank statements and VAT data. With no specific defect shown in the books or stock tally, rejection of accounts under section 145(3) rested only on suspicion. On that basis, the deposits could not be treated as unexplained money under section 69A, especially where the amounts had already formed part of turnover and a further addition would amount to double taxation. The assessee's explanation was accepted and the addition was deleted. Case-Laws Income Tax Fri, 15 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792830