https://www.taxtmi.com/caselaws?id=784794 Where the AO treated substantial cash deposits during the demonetisation period as unexplained money under s. 69A and taxed them under s. 115BBE after rejecting books under s. 145(3), the Tribunal held that regularly maintained books must be accepted unless shown unreliable, incorrect, or incomplete. As all purchases and sales were recorded, no defects in the accounting method or declared profits were established, and stock records were accepted, the statutory preconditions for invoking s. 145(3) were not met; sales out of available stock could not be disregarded as non-genuine. The cash deposits were held explained as arising from disclosed sales, and the addition under s. 69A read with s. 115BBE was deleted; the appeal was allowed. en-us Thu, 08 Jan 2026 00:00:00 +0530 Fri, 09 Jan 2026 12:55:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784794 Where the AO treated substantial cash deposits during the demonetisation period as unexplained money under s. 69A and taxed them under s. 115BBE after rejecting books under s. 145(3), the Tribunal held that regularly maintained books must be accepted unless shown unreliable, incorrect, or incomplete. As all purchases and sales were recorded, no defects in the accounting method or declared profits were established, and stock records were accepted, the statutory preconditions for invoking s. 145(3) were not met; sales out of available stock could not be disregarded as non-genuine. The cash deposits were held explained as arising from disclosed sales, and the addition under s. 69A read with s. 115BBE was deleted; the appeal was allowed. Case-Laws Income Tax Thu, 08 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784794