https://www.taxtmi.com/caselaws?id=787414 Cash deposits recorded as sales in regular audited books, supported by purchase records, quantitative stock details and sales registers, should not be treated as unexplained cash credits merely because they were received in cash during demonetisation. Where books of account are not rejected and no material establishes that sales are bogus or that cash represents undisclosed income, Section 68 does not apply to such business receipts. Consequently, taxation under Section 115BBE is not justified when stock reconciliation and corroborative records establish the genuineness of recorded sales. en-us Fri, 23 Jan 2026 00:00:00 +0530 Thu, 05 Mar 2026 08:41:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787414 Cash deposits recorded as sales in regular audited books, supported by purchase records, quantitative stock details and sales registers, should not be treated as unexplained cash credits merely because they were received in cash during demonetisation. Where books of account are not rejected and no material establishes that sales are bogus or that cash represents undisclosed income, Section 68 does not apply to such business receipts. Consequently, taxation under Section 115BBE is not justified when stock reconciliation and corroborative records establish the genuineness of recorded sales. Case-Laws Income Tax Fri, 23 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787414