https://www.taxtmi.com/caselaws?id=799606 Section 69A applies only to money not recorded in the books of account and not satisfactorily explained. Cash deposits arising from recorded cash sales during demonetisation are explained where audited books, cash book, sales and purchase registers, stock records, sales bills and VAT returns support the receipts, and no defect or contrary verification evidence exists. Increased turnover and a lower gross-profit rate may be explained by a shift to lower-margin jewellery trading and seasonal sales. Without rejecting the books under Section 145(3) or disproving the sales, the recorded receipts cannot be selectively assessed as unexplained money; doing so would also create double taxation. en-us Mon, 31 Aug 2026 00:00:00 +0530 Thu, 24 Sep 2026 08:27:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799606 Section 69A applies only to money not recorded in the books of account and not satisfactorily explained. Cash deposits arising from recorded cash sales during demonetisation are explained where audited books, cash book, sales and purchase registers, stock records, sales bills and VAT returns support the receipts, and no defect or contrary verification evidence exists. Increased turnover and a lower gross-profit rate may be explained by a shift to lower-margin jewellery trading and seasonal sales. Without rejecting the books under Section 145(3) or disproving the sales, the recorded receipts cannot be selectively assessed as unexplained money; doing so would also create double taxation. Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799606