#Unexplained Cash Credits

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Feb 5, 2026 • 10:29 PM

Section 68 IT Act | Cash Deposits During Demonetization Cannot Be Treated As Unexplained Income Without Discrediting Books of Account : Income Tax Appellate Tribunal

ITAT Ahmedabad holds that mere increase in cash deposit-to-turnover ratio during demonetization does not justify addition under Section 68 if books are maintained and sales are verified.

Credit Card Payments Cannot Be Treated as Unexplained Cash Credits Under Section 68 | Limited Scrutiny Context : Income Tax Appellate Tribunal

Case Law Analysis

Jan 30, 2026 • 06:00 PM

Credit Card Payments Cannot Be Treated as Unexplained Cash Credits Under Section 68 | Limited Scrutiny Context : Income Tax Appellate Tribunal

ITAT Chennai holds that credit card debits cannot be taxed as unexplained cash credits under Section 68; assessment must focus on factual verification within limited scrutiny scope.

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#Unexplained Cash Credits

Section 68 IT Act | Cash Deposits During Demonetization Cannot Be Treated As Unexplained Income Without Discrediting Books of Account : Income Tax Appellate Tribunal

Credit Card Payments Cannot Be Treated as Unexplained Cash Credits Under Section 68 | Limited Scrutiny Context : Income Tax Appellate Tribunal

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