https://www.taxtmi.com/caselaws?id=786350 Lower authorities treated cash balances shown at the demonetisation cut off as fictitious and sought to add subsequent bank deposits as unexplained income; the tribunal found the assessee had recorded those deposits as sales in the profit and loss account and, absent contrary proof or any suggestion that recorded expenditures were bogus, directed deletion of the addition. On the claimed shortfall in gross profit measured against an external margin benchmark, the tribunal held that books of account cannot be rejected without a latent, patent or glaring defect and that mere margin comparison does not justify an addition; the addition was overturned. en-us Mon, 09 Feb 2026 00:00:00 +0530 Tue, 10 Feb 2026 17:54:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786350 Lower authorities treated cash balances shown at the demonetisation cut off as fictitious and sought to add subsequent bank deposits as unexplained income; the tribunal found the assessee had recorded those deposits as sales in the profit and loss account and, absent contrary proof or any suggestion that recorded expenditures were bogus, directed deletion of the addition. On the claimed shortfall in gross profit measured against an external margin benchmark, the tribunal held that books of account cannot be rejected without a latent, patent or glaring defect and that mere margin comparison does not justify an addition; the addition was overturned. Case-Laws Income Tax Mon, 09 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786350