https://www.taxtmi.com/caselaws?id=469164 Cash deposits during the demonetisation period were treated as explained when supported by audited accounts, VAT and sales records, cash-flow details, cash-in-hand figures and bank certificates, and the Department failed to rebut that evidence; the addition under section 68 was therefore deleted. An estimated addition for lower net profit was also unsustainable because the profit rate was not shown to be abnormally lower than earlier years and no material justified further estimation. The first appellate deletion was upheld, and the Revenue's challenge failed on the merits. en-us Fri, 06 Dec 2024 00:00:00 +0530 Fri, 05 Jun 2026 19:01:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469164 Cash deposits during the demonetisation period were treated as explained when supported by audited accounts, VAT and sales records, cash-flow details, cash-in-hand figures and bank certificates, and the Department failed to rebut that evidence; the addition under section 68 was therefore deleted. An estimated addition for lower net profit was also unsustainable because the profit rate was not shown to be abnormally lower than earlier years and no material justified further estimation. The first appellate deletion was upheld, and the Revenue's challenge failed on the merits. Case-Laws Income Tax Fri, 06 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469164