https://www.taxtmi.com/caselaws?id=793439 Cash deposits made during the demonetisation period could not be taxed as unexplained income under section 69A where the assessee substantiated the source through audited books, cash flow statement, purchase records and declared turnover. The ITAT accepted that the deposits represented trade advances received in the course of business, and held that the Revenue had already assessed the business income shown in the return. Any alleged VAT non-compliance was for the VAT authorities and did not alter the income-tax position. The addition under section 69A was therefore deleted. en-us Thu, 04 Jun 2026 00:00:00 +0530 Tue, 16 Jun 2026 08:32:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793439 Cash deposits made during the demonetisation period could not be taxed as unexplained income under section 69A where the assessee substantiated the source through audited books, cash flow statement, purchase records and declared turnover. The ITAT accepted that the deposits represented trade advances received in the course of business, and held that the Revenue had already assessed the business income shown in the return. Any alleged VAT non-compliance was for the VAT authorities and did not alter the income-tax position. The addition under section 69A was therefore deleted. Case-Laws Income Tax Thu, 04 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793439