During demonetization period, assessee deposited certain amount in its bank account in Rs. 500 and Rs. 1,000 notes.  Assessing Officer asked assessee to explain source of these deposits but assessee failed to provide satisfactory evidence.  In response  summons under section 131  and letters under section 133(6), two of the parties denied giving any cash to the assessee one party did not file confirmation  and other parties did not respond. Assessing Officer completed assessment treating said amount as unexplained cash deposits under section 68 and levied tax at 60 per cent under section 115BBE. CIT (A) confirmed the order of the AO. On appeal the Tribunal held that  since assessee failed to prove source of cash deposits, Assessing Officer was justified in treating same as unexplained income under section 68 and levying tax rate as prescribed in section 115BBE. (AY. 2017-18)