https://www.taxtmi.com/caselaws?id=469481 Cash deposits made during the demonetisation period, where supported by recorded cash sales in the books and audit under section 44AB, could not be treated as unexplained income under section 68. The tribunal noted that no defects were found in the books, purchases, or genuineness of the business, and the deposits were ordinary business receipts already credited and offered to tax. Recharacterising the same receipts again as unexplained cash would amount to impermissible double addition. The absence of retail customer identity records was not fatal for a fruit trader, and the addition was deleted. en-us Fri, 07 Mar 2025 00:00:00 +0530 Thu, 18 Jun 2026 18:59:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469481 Cash deposits made during the demonetisation period, where supported by recorded cash sales in the books and audit under section 44AB, could not be treated as unexplained income under section 68. The tribunal noted that no defects were found in the books, purchases, or genuineness of the business, and the deposits were ordinary business receipts already credited and offered to tax. Recharacterising the same receipts again as unexplained cash would amount to impermissible double addition. The absence of retail customer identity records was not fatal for a fruit trader, and the addition was deleted. Case-Laws Income Tax Fri, 07 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469481