Court Rejects Addition of Unexplained Cash Credit u/s 68; Supports Taxpayer's Evidence During Demonetization Period.

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....Unexplained cash credit u/s 68 - cash deposited during the demonetization period - since the AO has accepted the sales/turnover of the assessee which were reflected in the audited books of accounts, as well as the explanation of assessee is supported by material on record, the AO/Ld. CIT(A)’s action of addition cannot be countenanced. - AT....