During search and survey operation conducted on premises of assessee-company huge deposits were found in its bank account after demonetization was announced and assessee claimed source of said deposit receipt of advances of less than Rs 2 lakhs from 2153 customers for purchase of bullions. The Assessing Officer made addition under 68 of the Act. CIT(A) affirmed the order of the Assessing Officer. On appeal the Tribunal held that the assessee had no/negligible ‘stock-in-trade’ of gold as on 8-11-2016 and no orders were place on 8-11-2016 and 9-1-2016 after announcement of demonetization, it was difficult to infer that there was a sale agreement between assessee and annonymous buyers and therefore, additions made under section 68 treating deposit of demonetized notes as unexplained credit is justified. (AY. 2017-18)