https://www.taxtmi.com/caselaws?id=445448 Audited books and supporting records can justify cash deposits when they are linked to disclosed cash sales, and additions as unexplained cash credit are not sustained absent material showing an independent unexplained source. Form 26AS entries cannot be treated as income merely because they appear in the statement where part reflects accounted interest and part reflects tax collected at source on purchases; the distinction between TDS and TCS is material. Estimated income additions for delayed or non-filing of return are unwarranted where audited books contain no defects and the return is ultimately filed. The appellate deletion of all additions was affirmed and the revenue's appeal failed. en-us Mon, 06 Nov 2023 00:00:00 +0530 Wed, 08 Nov 2023 09:11:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445448 Audited books and supporting records can justify cash deposits when they are linked to disclosed cash sales, and additions as unexplained cash credit are not sustained absent material showing an independent unexplained source. Form 26AS entries cannot be treated as income merely because they appear in the statement where part reflects accounted interest and part reflects tax collected at source on purchases; the distinction between TDS and TCS is material. Estimated income additions for delayed or non-filing of return are unwarranted where audited books contain no defects and the return is ultimately filed. The appellate deletion of all additions was affirmed and the revenue's appeal failed. Case-Laws Income Tax Mon, 06 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445448