https://www.taxtmi.com/caselaws?id=469149 Cash deposits during the demonetisation period were held not to justify an addition under Section 68 where the assessee's books were not rejected, purchases were accepted, and the deposits were explained through cash sales and realisation from old debtors in the glass bangle business. The appellate record, including the VAT order for the relevant year, supported the existence of genuine trading receipts and the cash component claimed. The Revenue's reliance on piecemeal deposits and comparison with earlier years was insufficient to displace the explanation on the surrounding facts, so the addition was deleted. en-us Fri, 21 Mar 2025 00:00:00 +0530 Thu, 04 Jun 2026 21:14:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469149 Cash deposits during the demonetisation period were held not to justify an addition under Section 68 where the assessee's books were not rejected, purchases were accepted, and the deposits were explained through cash sales and realisation from old debtors in the glass bangle business. The appellate record, including the VAT order for the relevant year, supported the existence of genuine trading receipts and the cash component claimed. The Revenue's reliance on piecemeal deposits and comparison with earlier years was insufficient to displace the explanation on the surrounding facts, so the addition was deleted. Case-Laws Income Tax Fri, 21 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469149