https://www.taxtmi.com/caselaws?id=469364 Cash deposits explained as business receipts from unrecorded sales were treated as part of turnover, not unexplained money under section 69A. The assessee supported the explanation with month-wise purchase and sales details, party-wise breakups, and bank statements, while the books were not rejected and the purchases were not doubted. On those facts, the deeming fiction under section 69A was considered inapplicable. The reasoning also noted that taxing the deposits again would result in double taxation of the same amount as business income and under the special rate provisions. The addition was deleted and the revenue's challenge failed. en-us Wed, 05 Mar 2025 00:00:00 +0530 Mon, 15 Jun 2026 23:25:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469364 Cash deposits explained as business receipts from unrecorded sales were treated as part of turnover, not unexplained money under section 69A. The assessee supported the explanation with month-wise purchase and sales details, party-wise breakups, and bank statements, while the books were not rejected and the purchases were not doubted. On those facts, the deeming fiction under section 69A was considered inapplicable. The reasoning also noted that taxing the deposits again would result in double taxation of the same amount as business income and under the special rate provisions. The addition was deleted and the revenue's challenge failed. Case-Laws Income Tax Wed, 05 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469364