https://www.taxtmi.com/caselaws?id=470992 Cash deposits could not be treated as unexplained merely because they exceeded reported turnover when VAT collected on sales was excluded under the exclusive accounting method; including that VAT reconciled the difference, requiring deletion of the addition. Specified bank note deposits during demonetisation were also not taxable as unexplained where they were recorded as business receipts in the cash book and the books of account had not been rejected; that addition was deleted. Assessed income required recomputation after both additions were removed. en-us Fri, 28 Mar 2025 00:00:00 +0530 Mon, 17 Aug 2026 22:08:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470992 Cash deposits could not be treated as unexplained merely because they exceeded reported turnover when VAT collected on sales was excluded under the exclusive accounting method; including that VAT reconciled the difference, requiring deletion of the addition. Specified bank note deposits during demonetisation were also not taxable as unexplained where they were recorded as business receipts in the cash book and the books of account had not been rejected; that addition was deleted. Assessed income required recomputation after both additions were removed. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470992