https://www.taxtmi.com/caselaws?id=471048 Cash deposits during demonetisation attributable to cash sales recorded in regular books cannot be treated separately as unexplained cash credit where sales, purchases, quantitative stock records and VAT records support the transactions. The sales proceeds and resulting profit were already reflected in the accounts and returned income. Without defects in those records or evidence that the sales were bogus, taxing the deposited sale proceeds again would duplicate income already brought to tax. The addition of deposits arising from undisputed recorded cash sales was therefore deleted. en-us Wed, 26 Apr 2023 00:00:00 +0530 Wed, 19 Aug 2026 10:53:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471048 Cash deposits during demonetisation attributable to cash sales recorded in regular books cannot be treated separately as unexplained cash credit where sales, purchases, quantitative stock records and VAT records support the transactions. The sales proceeds and resulting profit were already reflected in the accounts and returned income. Without defects in those records or evidence that the sales were bogus, taxing the deposited sale proceeds again would duplicate income already brought to tax. The addition of deposits arising from undisputed recorded cash sales was therefore deleted. Case-Laws Income Tax Wed, 26 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471048