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Demonetization

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ITAT Deletes Section 68 Addition Because Cash Deposits Were Supported by Recorded Sales

Income Tax : The Tribunal held that cash deposits during demonetisation cannot be treated as unexplained when backed by audited books, invoices...

May 15, 2026 552 Views 0 comment Print

Demonetisation 2.0: Is India Quietly Preparing for a Bigger Financial Strike?

Finance : Recent reforms in gold, land, and PAN tracking hint at a structured buildup toward another demonetisation. The key takeaway is a t...

January 22, 2026 4698 Views 0 comment Print

Important Delhi ITAT Judgment: Impact of Demonetization on Cash Sales

Income Tax : Discover the implications of a significant Delhi ITAT ruling on cash sales pre-demonetization. Learn how it affects taxation and f...

April 18, 2024 2679 Views 0 comment Print

Cash Deposits & Taxation: Section 69A vs. Section 44AD: Key Case Laws

Income Tax : Explore the impact of demonetization on cash deposits in India and the key legal insights from Section 69A vs. Section 44AD cases....

November 7, 2023 23217 Views 0 comment Print

FAQs on ₹2000 Denomination Banknotes – Withdrawal from Circulation

Fema / RBI : Public can continue to use ₹2000 banknotes for their transactions and also receive them in payment. However, they are encouraged...

September 30, 2023 10653 Views 1 comment Print


Latest News


SFIO Arrests CA in Hyderabad: Demonetization Role

CA, CS, CMA : SFIO, Ministry of Corporate Affairs, arrests CA Nalin Prabhat Panchal in Hyderabad for failure to honor summons related to Nityank...

September 18, 2023 2094 Views 1 comment Print

Demonetisation and its effect on Indian economy

Income Tax : No study on effect of withdrawal of legal tender character of the Specified Bank Notes (SBNs) on Indian economy has been published...

March 23, 2023 1254 Views 0 comment Print

Demonetisation led to detection of black money & widening of tax base

Income Tax : Demonetisation, inter alia, led to detection of black money, increase in tax collection and widening of tax base: Union MoS for Fi...

February 15, 2023 1506 Views 0 comment Print

Value of counterfeit notes detected in banking system reduced post demonetisation

Fema / RBI : Value of counterfeit notes detected in banking system reduced from ₹43.47 crores in 2016-17 to ₹8.26 crores in 2021-22 since d...

August 10, 2022 885 Views 0 comment Print

No proposal to stop circulation of Rs 2,000 notes

Income Tax : An analysis of the search cases, conducted by Income Tax Department (ITD), involving cash seizures of more than Rs 5 crores in the...

December 3, 2019 1305 Views 0 comment Print


Latest Judiciary


ITAT Delhi Deletes Demonetisation Addition for Cash Sales Properly Recorded in Books

Income Tax : The Tribunal emphasized that once sales are entered in regular books and supported by stock records, the burden shifts to the Reve...

June 6, 2026 177 Views 0 comment Print

Demonetization Addition Reduced for Cash Deposits Supported by Recorded Sales

Income Tax : ITAT Delhi held that cash deposits made during the demonetization period could not be fully treated as unexplained money when supp...

June 6, 2026 105 Views 0 comment Print

Demonetisation Cash Deposits of Principals Cannot Be Added in Agent’s Hands: Delhi ITAT

Income Tax : The ITAT held that cash deposited by a money transfer agent during demonetisation could not be treated as unexplained income when ...

May 28, 2026 204 Views 0 comment Print

ITAT Restricts Demonetization Cash Deposit Addition to Rs.1 Lakh Because Earlier Withdrawals Were Ignored

Income Tax : The ITAT Agra held that the tax authorities failed to consider earlier cash withdrawals while treating demonetization deposits as ...

May 28, 2026 153 Views 0 comment Print

No Section 68 Addition on Demonetisation Cash Deposits Supported by Business Receipts: ITAT Delhi

Income Tax : The ITAT held that cash deposits during demonetisation could not be treated as unexplained when the assessee had disclosed sales a...

May 28, 2026 231 Views 0 comment Print


Latest Notifications


98.44% ₹ 2000 Notes Returned After RBI Withdrawal Announcement

Fema / RBI : RBI reported that 98.44% of ₹2000 banknotes in circulation have been returned since the withdrawal announcement in May 2023. How...

March 2, 2026 735 Views 0 comment Print

RBI ₹2000 Note Withdrawal: 98.35% Returned by Sept 2025

Fema / RBI : The RBI announced the withdrawal of ₹2000 notes in May 2023. As of Sept 30, 2025, 98.35% of notes are returned. Notes remain leg...

October 13, 2025 1431 Views 0 comment Print

98.04% of ₹2000 banknotes in circulation as on May 19, 2023 returned: RBI

Fema / RBI : RBI provides an update on the withdrawal status of ₹2000 banknotes, with 98% of notes returned by October 31, 2024....

November 4, 2024 564 Views 0 comment Print

RBI Extends ₹2000 Banknote Withdrawal Deadline to October 7, 2023

Fema / RBI : RBI has extended deadline for withdrawal of ₹2000 banknotes to October 7, 2023. Learn about new guidelines and arrangements....

September 30, 2023 3099 Views 0 comment Print

93% of ₹2000 Banknotes in Circulation as of May 19, 2023 Returned

Fema / RBI : Reserve Bank of India's decision to withdraw ₹2000 banknotes has been highly effective, with 93% of these notes already returned...

September 1, 2023 747 Views 0 comment Print


All deposits during demonetization should not be presumed unaccounted: ITAT Bangalore

May 22, 2024 1638 Views 0 comment Print

Discover why not every deposit during demonetization is deemed unaccounted cash. Detailed analysis of Narayanappa Munikrishnappa Vs ITO case remitted for fresh consideration by ITAT.

Addition for Cash deposit during demonetization by agriculturist: ITAT allows partial relief

May 16, 2024 4221 Views 0 comment Print

ITAT Hyderabad grants partial relief to agriculturist in cash deposit case during demonetization, citing agricultural income sources. Addition reduced to Rs. 2 lakhs.

Demonetization Deposits Not Subject to Section 69A addition if Source Explained

May 9, 2024 1893 Views 0 comment Print

In the Satishbhai Kadvabhai Sarvaiya Vs ITO case, ITAT Rajkot rules that during demonetization, deposits don’t warrant addition under U/s 69A if adequately explained.

ITAT Grants Additional Opportunity to prove Demonetization Cash Deposit source

May 9, 2024 681 Views 0 comment Print

Hyderabad ITAT grants additional opportunity to taxpayer to explain nature & source of cash deposits made during demonetization. Read full text.

Source of Demonetization Deposits Substantiated: ITAT Deletes Addition

May 5, 2024 1830 Views 0 comment Print

In the case of Pukhraj Nathmal Jain Vs ITO, ITAT Mumbai deletes addition u/s 68 of Income Tax Act, as the source for deposits made during demonetisation period was substantiated.

Important Delhi ITAT Judgment: Impact of Demonetization on Cash Sales

April 18, 2024 2679 Views 0 comment Print

Discover the implications of a significant Delhi ITAT ruling on cash sales pre-demonetization. Learn how it affects taxation and financial reporting.

Cash Sales Already Reported as Income Cannot Be Taxed Under Pretext of Inflation Sales to Mask Demonetization Currency

April 17, 2024 1716 Views 0 comment Print

ITAT Delhi held that that cash sales that is already offered as income cannot be taxed in the grab of inflation sales to cover up demonetization currency. Accordingly, addition u/s. 68 of the Income Tax Act directed to be deleted.

Mere demonetization cannot be a reason for doubting availability of cash with assessee

April 5, 2024 1416 Views 0 comment Print

Indore ITAT ruling in Mohammad Ibraheem Khatri vs ITO case highlights that depositing cash after demonetization is not a reason to doubt cash availability.

Demonetisation Cash Deposits: Assessee Bears Burden to Prove Genuineness

April 4, 2024 2100 Views 0 comment Print

Read the full text of the ITAT Bangalore order on Aijaz Ahmed Suri Vs ITO regarding demonetization deposits. Analysis and conclusion included.

Cash Deposits During Demonetization: ITAT Delhi deletes Addition

April 4, 2024 12831 Views 1 comment Print

Explore the ITAT Delhi’s ruling on cash deposits during demonetization in the case of Shivam Industries Radheshyam Sharma & Co. Vs ACIT for AY 2017-18.

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