https://www.taxtmi.com/caselaws?id=787159 Where the assessee produced bank statements, income-tax returns and lender confirmations showing banking-channel deposits and repayment, the Tribunal held that the assessee discharged the Section 68 prerequisites (identity, creditworthiness and genuineness) and the burden shifted to Revenue, resulting in deletion of the Rs. 1.50 crore addition and consequential interest disallowance. On unaccounted sales and stock discrepancies, the Tribunal rejected an AO's enhanced gross profit rate absent reasons, applied the assessee's normal gross profit rate to estimate profit on unaccounted receipts, and directed telescoping of overlapping additions for excess/short stock and related cash receipts, dismissing Revenue's appeals. en-us Tue, 24 Feb 2026 00:00:00 +0530 Fri, 27 Feb 2026 08:36:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787159 Where the assessee produced bank statements, income-tax returns and lender confirmations showing banking-channel deposits and repayment, the Tribunal held that the assessee discharged the Section 68 prerequisites (identity, creditworthiness and genuineness) and the burden shifted to Revenue, resulting in deletion of the Rs. 1.50 crore addition and consequential interest disallowance. On unaccounted sales and stock discrepancies, the Tribunal rejected an AO's enhanced gross profit rate absent reasons, applied the assessee's normal gross profit rate to estimate profit on unaccounted receipts, and directed telescoping of overlapping additions for excess/short stock and related cash receipts, dismissing Revenue's appeals. Case-Laws Income Tax Tue, 24 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787159