https://www.taxtmi.com/caselaws?id=373486 Section 68 applies only where a sum is credited in the assessee's books of account; where no books are maintained, bank deposits cannot be taxed as unexplained cash credits under that provision. The Tribunal followed its earlier view that share-sale receipts treated as accommodation entries could not be assessed under section 68 in the absence of books, so the addition was made under an inapplicable section and could not survive. The addition was deleted. en-us Fri, 11 Jan 2019 00:00:00 +0530 Sun, 13 Jan 2019 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373486 Section 68 applies only where a sum is credited in the assessee's books of account; where no books are maintained, bank deposits cannot be taxed as unexplained cash credits under that provision. The Tribunal followed its earlier view that share-sale receipts treated as accommodation entries could not be assessed under section 68 in the absence of books, so the addition was made under an inapplicable section and could not survive. The addition was deleted. Case-Laws Income Tax Fri, 11 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373486