ITAT Deletes Demonetisation Cash Deposit Addition as Jewellery Firm Proved Deposits Were Supported by Genuine Cash Sales:

ITAT Deletes Demonetisation Cash Deposit Addition as Jewellery Firm Proved Deposits Were Supported by Genuine Cash Sales

The ITAT Mumbai has held that cash deposits made during the demonetisation period cannot be treated as unexplained money merely because there was a sharp rise in cash sales.

No Addition Under Sections 69A and 115BBE Can Be Sustained Merely on Suspicion When Books of Account

authorSaimadateJul 10, 2026
Last update on Jul 9, 2026
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ITAT Deletes Demonetisation Cash Deposit Addition as Jewellery Firm Proved Deposits Were Supported by Genuine Cash Sales

The ITAT Mumbai has held that cash deposits made during the demonetisation period cannot be treated as unexplained money merely because there was a sharp rise in cash sales.

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Saima is a Law graduate with a passion for research and content writing. She writes for Finance, Taxation and Legal Updates at Studycafe.in, simplifying complex legal decisions by the ITAT, High Court, AAR and GSTAT into uncomplicated and clear explanations.
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