Dismissing the appeal the Tribunal held that the admitted and uncontroverted facts were that during the relevant year the assessee had achieved sales turnover in the business of trading in jewellery of Rs. 451 lakhs which included receipts of Rs. 98 lakhs from sales made on the day of demonetisation. These sales were found recorded in the sales register, stock register, cash book, etc. The sum also formed part of the overall sales credited in the profit and loss account and offered for taxation under the head “Business income”. The stock and sales registers showed that the movement of stock fully reconciled with the reported sale proceeds on the day of demonetisation. The Assessing Officer had accepted the sales and the stocks and had not invoked the provisions of section 145(3) of the Act and rejected the book results. He had also assessed the profits derived from these sales which, inter alia, included the sale proceeds of Rs. 98 lakhs received on the day of demonetisation. It was unjustified on the Assessing Officer’s part to again assess the same by way of unexplained cash credit. Order of CIT(A) is affirmed.  (AY.2017-18)