https://www.taxtmi.com/caselaws?id=793287 Cash deposits during the demonetisation period were examined against section 68, with the key question being whether deposits claimed to arise from recorded sales could be treated as unexplained income. The note states that where cash book entries, sale records, audited accounts, stock registers and VAT returns supported the turnover, and the books were not rejected or shown to contain specific defects, the deposits were not to be treated as unexplained cash credits. It further records that Form-F declarations and accepted VAT assessments reinforced the genuineness of inter-branch stock movements and the source of cash. The stated result was deletion of the addition because the revenue relied only on suspicion and sales-pattern anomalies without contrary material. en-us Tue, 26 May 2026 00:00:00 +0530 Fri, 12 Jun 2026 08:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793287 Cash deposits during the demonetisation period were examined against section 68, with the key question being whether deposits claimed to arise from recorded sales could be treated as unexplained income. The note states that where cash book entries, sale records, audited accounts, stock registers and VAT returns supported the turnover, and the books were not rejected or shown to contain specific defects, the deposits were not to be treated as unexplained cash credits. It further records that Form-F declarations and accepted VAT assessments reinforced the genuineness of inter-branch stock movements and the source of cash. The stated result was deletion of the addition because the revenue relied only on suspicion and sales-pattern anomalies without contrary material. Case-Laws Income Tax Tue, 26 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793287