https://www.taxtmi.com/caselaws?id=328577 Cash deposits in bank accounts could not be treated mechanically as undisclosed turnover without proper examination of the cash book, bank statements, reconciliation and the source of deposits. The record required fresh verification of inter-bank cash withdrawals and other cash movements before any profit estimation could be made. The scope of scrutiny was also stated to be relevant where the case originated from AIR information, with wider enquiry subject to the applicable administrative instructions. The matter was remitted to the Assessing Officer for fresh verification and lawful estimation, so the addition was not finally sustained. en-us Thu, 02 Jun 2016 00:00:00 +0530 Wed, 08 Jun 2016 19:47:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328577 Cash deposits in bank accounts could not be treated mechanically as undisclosed turnover without proper examination of the cash book, bank statements, reconciliation and the source of deposits. The record required fresh verification of inter-bank cash withdrawals and other cash movements before any profit estimation could be made. The scope of scrutiny was also stated to be relevant where the case originated from AIR information, with wider enquiry subject to the applicable administrative instructions. The matter was remitted to the Assessing Officer for fresh verification and lawful estimation, so the addition was not finally sustained. Case-Laws Income Tax Thu, 02 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328577