https://www.taxtmi.com/caselaws?id=792898 Cash deposits made during demonetisation were not liable to addition as unexplained cash credits where the books were accepted, trading results were not rejected, and sale bills, cash book entries, VAT returns, bank records and reconciliations established a direct nexus with recorded jewellery sales. Share application money received through banking channels also could not be treated as unexplained merely because shares were not allotted within the procedural time under company law, since the investor's identity, banking trail and receipt genuineness were not disputed and no adverse material showed failure of the section 68 ingredients. Both additions were therefore deleted. en-us Fri, 15 May 2026 00:00:00 +0530 Thu, 04 Jun 2026 14:33:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792898 Cash deposits made during demonetisation were not liable to addition as unexplained cash credits where the books were accepted, trading results were not rejected, and sale bills, cash book entries, VAT returns, bank records and reconciliations established a direct nexus with recorded jewellery sales. Share application money received through banking channels also could not be treated as unexplained merely because shares were not allotted within the procedural time under company law, since the investor's identity, banking trail and receipt genuineness were not disputed and no adverse material showed failure of the section 68 ingredients. Both additions were therefore deleted. Case-Laws Income Tax Fri, 15 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792898