https://www.taxtmi.com/caselaws?id=469855 Cash deposits made during demonetisation could not be sustained as an addition where the Revenue invoked Section 69 of the Income-tax Act, 1961 for what was a source-of-funds issue. The Tribunal noted that the controversy did not relate to an unexplained investment outside the books, but to cash deposits, for which Section 69A would have been the relevant provision if applicable. It further found that the assessment was framed mechanically and without due application of mind in using the wrong charging section. The assessment was therefore held arbitrary and bad in law, and the addition was deleted. en-us Mon, 25 May 2026 00:00:00 +0530 Mon, 06 Jul 2026 20:36:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469855 Cash deposits made during demonetisation could not be sustained as an addition where the Revenue invoked Section 69 of the Income-tax Act, 1961 for what was a source-of-funds issue. The Tribunal noted that the controversy did not relate to an unexplained investment outside the books, but to cash deposits, for which Section 69A would have been the relevant provision if applicable. It further found that the assessment was framed mechanically and without due application of mind in using the wrong charging section. The assessment was therefore held arbitrary and bad in law, and the addition was deleted. Case-Laws Income Tax Mon, 25 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469855