https://www.taxtmi.com/caselaws?id=791461 Books of account may not be rejected under section 145 merely because of perceived cash mismatch or the absence of customer particulars where retail sales and purchases are otherwise accepted, VAT returns and regular records support the cash sales, and no specific defect in the accounts is shown. Cash deposits during demonetisation also cannot be taxed under section 68 as unexplained cash credit when they are explained as recorded retail sale proceeds supported by sales tax, VAT and stock records, and the corresponding receipts have already been offered to tax in the trading account. The commentary emphasises that unsupported surmise is insufficient and that the same income cannot be assessed twice on the same factual receipt. en-us Fri, 27 Mar 2026 00:00:00 +0530 Sat, 09 May 2026 12:45:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791461 Books of account may not be rejected under section 145 merely because of perceived cash mismatch or the absence of customer particulars where retail sales and purchases are otherwise accepted, VAT returns and regular records support the cash sales, and no specific defect in the accounts is shown. Cash deposits during demonetisation also cannot be taxed under section 68 as unexplained cash credit when they are explained as recorded retail sale proceeds supported by sales tax, VAT and stock records, and the corresponding receipts have already been offered to tax in the trading account. The commentary emphasises that unsupported surmise is insufficient and that the same income cannot be assessed twice on the same factual receipt. Case-Laws Income Tax Fri, 27 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791461