Cash Deposits During Demonetisation Cannot Be Treated as Unexplained Income:
The ITAT Mumbai held that if the cash deposits are supported by a book of accounts, stock records, sales registers and VAT returns can not be held as unexplained money only because they were deposited during demonetisation.
ITAT Deletes Unexplained Income Addition of 1.90 Crore
Saloni Kumari
Jun 1, 2026
Premium
Cash Deposits During Demonetisation Cannot Be Treated as Unexplained Income
The ITAT Mumbai held that if the cash deposits are supported by a book of accounts, stock records, sales registers and VAT returns can not be held as unexplained money only because they were deposited during demonetisation.
Also Read
High Court Orders Rs 1 Crore Tax Refund, Holds Charitable Trust Entitled to Section 11(1A) Exemption Despite Missed ClaimSupreme Court Dismisses Income Tax Department’s SLP Against Delhi HC Order Directing Nil-Tax Certificate to GoDaddy.comHigh Court Quashes Tax Recovery Order Against Former Company Director, Says Authorities Failed to Consider Reply and Supporting DocumentsITAT Rules Section 54 Shortfall Cannot Be Treated as Concealment when Investment Period Had Not Expired
About Author
Saloni Kumari
Content Writer
Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].
Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].
StudyCafe
Delhi, Delhi, India
2684My Recent Articles
- High Court Orders Rs 1 Crore Tax Refund, Holds Charitable Trust Entitled to Section 11(1A) Exemption Despite Missed ClaimPremium
- Excess Availment of ITC Leads to Rs 1.75 Crore GST Show Cause Notice on TVS Electronics Limited
- Mahindra Holidays Receives Rs 9.78 Crore GST SCN Over ITC and GSTR-7, GSTR-8 Discrepancies for FY 2022-23
- IGST Refund Dispute: Gujarat HC Holds Omitted Rule 96(10) Cannot Continue Without Saving ClausePremium
- Gujarat High Court Quashes Show-Cause Notice Concerning Levy of GST on Land License/LeasePremium
Up Next
Loading suggestions…
Recent Posts
All Posts
Recent Posts
All Posts