https://www.taxtmi.com/caselaws?id=783053 Section 68 could not be applied where the assessee had not maintained books of account, because the statutory pre-condition is that the sum must be found credited in the assessee's books for the relevant previous year. On the stated facts, the assessment record proceeded on the basis that no books existed, so the addition for cash deposits lacked the legal foundation required under section 68. The deposits were also linked to statements recorded during survey and search proceedings, including an explanation that the cash came from unaccounted sources, which did not cure the absence of books. The addition was therefore unsustainable and the assessee succeeded on this issue. en-us Fri, 28 Nov 2025 00:00:00 +0530 Tue, 09 Dec 2025 08:41:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783053 Section 68 could not be applied where the assessee had not maintained books of account, because the statutory pre-condition is that the sum must be found credited in the assessee's books for the relevant previous year. On the stated facts, the assessment record proceeded on the basis that no books existed, so the addition for cash deposits lacked the legal foundation required under section 68. The deposits were also linked to statements recorded during survey and search proceedings, including an explanation that the cash came from unaccounted sources, which did not cure the absence of books. The addition was therefore unsustainable and the assessee succeeded on this issue. Case-Laws Income Tax Fri, 28 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783053