https://www.taxtmi.com/caselaws?id=472094 Cash deposits made during demonetisation are not unexplained cash credits where recorded cash sales adequately establish their source. Audited books, cash books, stock records, sales details and VAT returns may discharge the taxpayer's burden when they consistently show cash sales as an established part of the business and reveal no defects or manipulation. Acceptance of sales, purchases and stock records supports the explanation, while festive-season sales and intervening bank holidays may explain an increased cash balance. Section 68 does not permit an addition once the nature and source of the deposits are satisfactorily explained. en-us Wed, 28 Aug 2024 00:00:00 +0530 Tue, 29 Sep 2026 18:26:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472094 Cash deposits made during demonetisation are not unexplained cash credits where recorded cash sales adequately establish their source. Audited books, cash books, stock records, sales details and VAT returns may discharge the taxpayer's burden when they consistently show cash sales as an established part of the business and reveal no defects or manipulation. Acceptance of sales, purchases and stock records supports the explanation, while festive-season sales and intervening bank holidays may explain an increased cash balance. Section 68 does not permit an addition once the nature and source of the deposits are satisfactorily explained. Case-Laws Income Tax Wed, 28 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472094