https://www.taxtmi.com/caselaws?id=403399 Section 68 applies only to sums credited in books of account maintained by the assessee; a bank passbook or bank statement is not books of account. Where income is returned on a presumptive basis under section 44AD and no books are required to be maintained, the foundational condition for invoking section 68 is absent. Cash deposits in the bank account could not, by themselves, justify an addition under section 68, and the addition was therefore not sustainable. en-us Mon, 28 Dec 2020 00:00:00 +0530 Wed, 30 Oct 2024 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403399 Section 68 applies only to sums credited in books of account maintained by the assessee; a bank passbook or bank statement is not books of account. Where income is returned on a presumptive basis under section 44AD and no books are required to be maintained, the foundational condition for invoking section 68 is absent. Cash deposits in the bank account could not, by themselves, justify an addition under section 68, and the addition was therefore not sustainable. Case-Laws Income Tax Mon, 28 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403399