https://www.taxtmi.com/caselaws?id=470406 Cash deposits during the demonetisation period were treated as satisfactorily explained where the assessee supported their source through returns, cash book, bank statements, customer invoices, customer confirmation and service-tax returns. As a clearing and forwarding agent, the assessee earned agency fees or commission, while customer receipts need not be reflected as income in its profit and loss account. Comparing cash deposits solely with reported income was therefore not a valid basis to reject the explanation. Deposits made before the demonetisation period were also included in the assessment. The addition for unexplained money under Section 69A was deleted. en-us Thu, 20 Mar 2025 00:00:00 +0530 Sat, 25 Jul 2026 15:29:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470406 Cash deposits during the demonetisation period were treated as satisfactorily explained where the assessee supported their source through returns, cash book, bank statements, customer invoices, customer confirmation and service-tax returns. As a clearing and forwarding agent, the assessee earned agency fees or commission, while customer receipts need not be reflected as income in its profit and loss account. Comparing cash deposits solely with reported income was therefore not a valid basis to reject the explanation. Deposits made before the demonetisation period were also included in the assessment. The addition for unexplained money under Section 69A was deleted. Case-Laws Income Tax Thu, 20 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470406