https://www.taxtmi.com/caselaws?id=785496 Addition of unexplained bank credits was found to be impermissible where credited amounts represented carried-forward secured and unsecured loan balances and no incriminating material was found during search, and consequently the addition was deleted. Rejection of books and consequential addition on gross profit was held unwarranted because earlier assessments accepted returned income, no specific defects were found in the books, remand report supported accuracy, and comparative gross profit rates for prior years were consistent; therefore the gross profit addition was deleted. en-us Wed, 21 Jan 2026 00:00:00 +0530 Sat, 24 Jan 2026 08:39:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785496 Addition of unexplained bank credits was found to be impermissible where credited amounts represented carried-forward secured and unsecured loan balances and no incriminating material was found during search, and consequently the addition was deleted. Rejection of books and consequential addition on gross profit was held unwarranted because earlier assessments accepted returned income, no specific defects were found in the books, remand report supported accuracy, and comparative gross profit rates for prior years were consistent; therefore the gross profit addition was deleted. Case-Laws Income Tax Wed, 21 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785496