https://www.taxtmi.com/caselaws?id=767207 Cash receipts recorded as sales cannot be taxed as unexplained cash credits under section 68 when they are supported by tax invoices, books of account, stock records and VAT returns, and the books are not found defective. The absence of customer addresses on invoices, by itself, is insufficient to treat the sales as bogus where there is no mismatch in inventory movement or other tangible evidence of undisclosed income. A sales spike during demonetisation does not, without more, justify invoking section 68, and the alternative charge under section 115BBE also does not apply on those facts. en-us Mon, 24 Feb 2025 00:00:00 +0530 Tue, 11 Mar 2025 15:04:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767207 Cash receipts recorded as sales cannot be taxed as unexplained cash credits under section 68 when they are supported by tax invoices, books of account, stock records and VAT returns, and the books are not found defective. The absence of customer addresses on invoices, by itself, is insufficient to treat the sales as bogus where there is no mismatch in inventory movement or other tangible evidence of undisclosed income. A sales spike during demonetisation does not, without more, justify invoking section 68, and the alternative charge under section 115BBE also does not apply on those facts. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767207