https://www.taxtmi.com/caselaws?id=788527 Where an assessee fails to support purchases, stock records, and quantitative details with reliable evidence, the books of account may be rejected and profit estimated on the basis adopted by the tax authority. In this matter, the absence of bills, vouchers, purchase confirmations, stock register entries, and consistent balance-sheet support, together with unresponded supplier notices and unexplained cash withdrawals, rendered the books unreliable. Separately, cash deposits made during the demonetisation period were treated as unexplained income because the assessee did not establish a satisfactory source despite bank inquiry and notices. The additions based on estimated gross profit and unexplained cash deposits were therefore sustained. en-us Fri, 20 Mar 2026 00:00:00 +0530 Tue, 24 Mar 2026 08:12:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788527 Where an assessee fails to support purchases, stock records, and quantitative details with reliable evidence, the books of account may be rejected and profit estimated on the basis adopted by the tax authority. In this matter, the absence of bills, vouchers, purchase confirmations, stock register entries, and consistent balance-sheet support, together with unresponded supplier notices and unexplained cash withdrawals, rendered the books unreliable. Separately, cash deposits made during the demonetisation period were treated as unexplained income because the assessee did not establish a satisfactory source despite bank inquiry and notices. The additions based on estimated gross profit and unexplained cash deposits were therefore sustained. Case-Laws Income Tax Fri, 20 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788527