https://www.taxtmi.com/caselaws?id=791622 Cash deposits in a bank account were held to be explained business receipts, not unexplained cash credits under section 68, because the assessee supported the explanation with turnover, gross profit and net profit details and showed that the business involved cash, cheque and digital realisations from wholesale medicine sales. The record also showed that the appellate authority had verified the materials and accepted that a substantial part of the cash receipts had been deposited in the bank account. In the absence of any material to dislodge those verified findings, the addition was found unsustainable and the deletion in favour of the assessee was upheld. en-us Thu, 02 Apr 2026 00:00:00 +0530 Thu, 14 May 2026 09:01:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791622 Cash deposits in a bank account were held to be explained business receipts, not unexplained cash credits under section 68, because the assessee supported the explanation with turnover, gross profit and net profit details and showed that the business involved cash, cheque and digital realisations from wholesale medicine sales. The record also showed that the appellate authority had verified the materials and accepted that a substantial part of the cash receipts had been deposited in the bank account. In the absence of any material to dislodge those verified findings, the addition was found unsustainable and the deletion in favour of the assessee was upheld. Case-Laws Income Tax Thu, 02 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791622