https://www.taxtmi.com/caselaws?id=469642 Cash deposits in specified bank notes during demonetisation were explained as business receipts from fireworks sales, supported by books of account, audited financial statements, sales details, debtor particulars, stock position, and GST/VAT returns. The tribunal noted that the Assessing Officer accepted part of the deposits but rejected the balance mainly for lack of customer confirmations and adverse enquiry, without producing contrary material or pointing to any defect in the books. It also observed that taxing the deposits again would amount to double taxation of the same turnover. On that reasoning, the section 69A addition was held unsustainable. en-us Wed, 09 Oct 2024 00:00:00 +0530 Thu, 25 Jun 2026 18:57:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469642 Cash deposits in specified bank notes during demonetisation were explained as business receipts from fireworks sales, supported by books of account, audited financial statements, sales details, debtor particulars, stock position, and GST/VAT returns. The tribunal noted that the Assessing Officer accepted part of the deposits but rejected the balance mainly for lack of customer confirmations and adverse enquiry, without producing contrary material or pointing to any defect in the books. It also observed that taxing the deposits again would amount to double taxation of the same turnover. On that reasoning, the section 69A addition was held unsustainable. Case-Laws Income Tax Wed, 09 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469642