https://www.taxtmi.com/caselaws?id=470112 Cash deposits of specified bank notes recorded as sales during demonetisation cannot be treated as unexplained credits merely because the cash-deposit-to-sales ratio increased. The notes state that sales below the buyer-identification threshold under Rule 114B were supported by available stock, banking-channel purchases, quantitative and cash records, and indirect-tax returns. No defects were identified in purchases, stock records, business income, gross-profit ratio, or supporting evidence. The rejection of books and unexplained cash-credit addition were therefore unsustainable, and the addition was deleted. en-us Mon, 23 Sep 2024 00:00:00 +0530 Thu, 16 Jul 2026 11:09:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470112 Cash deposits of specified bank notes recorded as sales during demonetisation cannot be treated as unexplained credits merely because the cash-deposit-to-sales ratio increased. The notes state that sales below the buyer-identification threshold under Rule 114B were supported by available stock, banking-channel purchases, quantitative and cash records, and indirect-tax returns. No defects were identified in purchases, stock records, business income, gross-profit ratio, or supporting evidence. The rejection of books and unexplained cash-credit addition were therefore unsustainable, and the addition was deleted. Case-Laws Income Tax Mon, 23 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470112