https://www.taxtmi.com/caselaws?id=765993 Cash entries recorded in a maintained cash book and balance sheet can fall within "books of account" for section 68, but the assessee must still prove the nature and source of the credit with cogent evidence; a mere claim of trade advances or business receipts is insufficient, so the cash credit addition of Rs. 78,00,000 was sustained. On the balance cash deposits, the factual record accepted that part of the money came from the assessee's own capital and business accruals and part from the father's cash use of the bank account, so the further ad hoc 8% addition under section 44AD was not warranted and was deleted. en-us Wed, 12 Feb 2025 00:00:00 +0530 Fri, 14 Feb 2025 08:26:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765993 Cash entries recorded in a maintained cash book and balance sheet can fall within "books of account" for section 68, but the assessee must still prove the nature and source of the credit with cogent evidence; a mere claim of trade advances or business receipts is insufficient, so the cash credit addition of Rs. 78,00,000 was sustained. On the balance cash deposits, the factual record accepted that part of the money came from the assessee's own capital and business accruals and part from the father's cash use of the bank account, so the further ad hoc 8% addition under section 44AD was not warranted and was deleted. Case-Laws Income Tax Wed, 12 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765993