https://www.taxtmi.com/caselaws?id=371207 Cash deposits in a savings bank account cannot be assessed under section 68 unless the sum is credited in books of account maintained by the assessee. A bank passbook or bank statement is maintained by the bank and does not itself constitute the assessee's books. Where no books of account are maintained, the statutory precondition for invoking section 68 is absent. On that basis, the Tribunal held that the addition made only on the basis of cash deposits in the savings account was legally unsustainable and deleted it. en-us Tue, 27 Nov 2018 00:00:00 +0530 Fri, 30 Nov 2018 07:24:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371207 Cash deposits in a savings bank account cannot be assessed under section 68 unless the sum is credited in books of account maintained by the assessee. A bank passbook or bank statement is maintained by the bank and does not itself constitute the assessee's books. Where no books of account are maintained, the statutory precondition for invoking section 68 is absent. On that basis, the Tribunal held that the addition made only on the basis of cash deposits in the savings account was legally unsustainable and deleted it. Case-Laws Income Tax Tue, 27 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371207