https://www.taxtmi.com/caselaws?id=235813 Regular books maintained on a mercantile basis, supported by freight memos, consignment notes and delivery challans, were treated as sufficient to explain outstanding freight and route liabilities. Mere non-response to notices under Section 133(6) did not by itself justify rejection of the accounts or conversion of trade payables into unexplained credits. In the absence of defective books or concrete material showing the liabilities to be bogus or fictitious, the conditions for disturbing the accounts under Section 145(3) or making an addition under Section 68 were not met. Subsequent payment of the liabilities in later years further supported their genuineness. en-us Fri, 31 May 2013 00:00:00 +0530 Tue, 18 Nov 2025 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235813 Regular books maintained on a mercantile basis, supported by freight memos, consignment notes and delivery challans, were treated as sufficient to explain outstanding freight and route liabilities. Mere non-response to notices under Section 133(6) did not by itself justify rejection of the accounts or conversion of trade payables into unexplained credits. In the absence of defective books or concrete material showing the liabilities to be bogus or fictitious, the conditions for disturbing the accounts under Section 145(3) or making an addition under Section 68 were not met. Subsequent payment of the liabilities in later years further supported their genuineness. Case-Laws Income Tax Fri, 31 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235813