https://www.taxtmi.com/caselaws?id=468678 Cash receipts recorded as sales in the books, supported by stock reconciliation, party particulars and banking evidence, could not be treated as unexplained cash credits merely because they arose during demonetisation or because some purchasers were not produced. The governing principle is that recorded sales cannot be rejected under section 68 without adverse material showing a different source of funds or concrete defects in the books or stock records; on that basis, the larger addition was held unsustainable. A separate amount described as a cash advance returned through banking channels depended on verification of the linked sales and repayment entries, so factual examination of the books and bank records remained necessary. en-us Wed, 19 Jul 2023 00:00:00 +0530 Sat, 16 May 2026 13:55:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468678 Cash receipts recorded as sales in the books, supported by stock reconciliation, party particulars and banking evidence, could not be treated as unexplained cash credits merely because they arose during demonetisation or because some purchasers were not produced. The governing principle is that recorded sales cannot be rejected under section 68 without adverse material showing a different source of funds or concrete defects in the books or stock records; on that basis, the larger addition was held unsustainable. A separate amount described as a cash advance returned through banking channels depended on verification of the linked sales and repayment entries, so factual examination of the books and bank records remained necessary. Case-Laws Income Tax Wed, 19 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468678