https://www.taxtmi.com/caselaws?id=791465 Recorded sales supported by invoices, waybills, ledger entries, Form C, stock records and banking trail could not be treated as unexplained cash credit under section 68 where no specific defect was found, the books were not rejected, and the addition rested only on an uncorroborated third-party statement. By contrast, an ad hoc disallowance of expenditure was sustained where the assessee failed to produce supporting bills and vouchers, leaving the genuineness of the claim unverified. The note illustrates that section 68 requires more than suspicion when sales are properly documented, while unsupported expenditure may be disallowed for want of primary evidence. en-us Fri, 27 Mar 2026 00:00:00 +0530 Mon, 11 May 2026 14:10:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791465 Recorded sales supported by invoices, waybills, ledger entries, Form C, stock records and banking trail could not be treated as unexplained cash credit under section 68 where no specific defect was found, the books were not rejected, and the addition rested only on an uncorroborated third-party statement. By contrast, an ad hoc disallowance of expenditure was sustained where the assessee failed to produce supporting bills and vouchers, leaving the genuineness of the claim unverified. The note illustrates that section 68 requires more than suspicion when sales are properly documented, while unsupported expenditure may be disallowed for want of primary evidence. Case-Laws Income Tax Fri, 27 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791465