https://www.taxtmi.com/caselaws?id=756206 Unexplained cash under section 69A cannot be sustained where the assessee produces the cash book and other trading records, and the books of account are not rejected or the recorded transactions dislodged. On the facts stated, cash found in a locker was shown in the regular books, so treating the entire balance as unexplained cash was not justified. The lower net profit ratio for the year, however, indicated some suppression in trading results, so only a limited estimated business addition linked to cash sales was considered appropriate, with the balance deleted. en-us Thu, 25 Jul 2024 00:00:00 +0530 Tue, 30 Jul 2024 08:09:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756206 Unexplained cash under section 69A cannot be sustained where the assessee produces the cash book and other trading records, and the books of account are not rejected or the recorded transactions dislodged. On the facts stated, cash found in a locker was shown in the regular books, so treating the entire balance as unexplained cash was not justified. The lower net profit ratio for the year, however, indicated some suppression in trading results, so only a limited estimated business addition linked to cash sales was considered appropriate, with the balance deleted. Case-Laws Income Tax Thu, 25 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756206