https://www.taxtmi.com/caselaws?id=753713 Section 68 can be invoked only where a credited sum is found in the assessee's books of account. Where business income is returned on a presumptive basis under section 44AD and no books are required to be maintained, that foundational condition is absent. A bank passbook is not treated as books of account for this purpose, and the same receipts cannot be taxed again under section 68 after presumptive taxation. The addition was therefore unsustainable and was deleted. en-us Tue, 16 Jan 2024 00:00:00 +0530 Sat, 08 Jun 2024 09:05:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753713 Section 68 can be invoked only where a credited sum is found in the assessee's books of account. Where business income is returned on a presumptive basis under section 44AD and no books are required to be maintained, that foundational condition is absent. A bank passbook is not treated as books of account for this purpose, and the same receipts cannot be taxed again under section 68 after presumptive taxation. The addition was therefore unsustainable and was deleted. Case-Laws Income Tax Tue, 16 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753713