If taxpayers has a history of cash sales, Cash deposited in bank during demonetization cannot be treated as unexplained money

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If taxpayers has a history of cash sales, Cash deposited in bank during demonetization cannot be treated as unexplained money

 

Cash deposited in bank accounts during the demonetization period cannot be held as unexplained money, given that the assessee has a history of cash sales and the books of accounts have not been rejected or found inaccurate by the assessing officer. Additionally, the sales were accepted by the VAT authorities.

 

The Copy is as under:

Final Order - Himachal Fibers-1

 

 

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