https://www.taxtmi.com/caselaws?id=791790 Cash deposits recorded as business sales were not treated as unexplained cash credit where purchases and sales were already accepted, the books were not rejected, and no specific discrepancy was found; absence of a stock register alone was held insufficient, and taxing the same receipts again would amount to double taxation. The deletion of the addition was upheld. By contrast, a capital introduction claimed to be sourced from a gift required proof of the donor's identity, genuineness of the transaction and creditworthiness; as that verification was incomplete and the appellate relief lacked adequate inquiry, the matter was remanded for de novo examination. en-us Fri, 10 Apr 2026 00:00:00 +0530 Mon, 18 May 2026 08:40:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791790 Cash deposits recorded as business sales were not treated as unexplained cash credit where purchases and sales were already accepted, the books were not rejected, and no specific discrepancy was found; absence of a stock register alone was held insufficient, and taxing the same receipts again would amount to double taxation. The deletion of the addition was upheld. By contrast, a capital introduction claimed to be sourced from a gift required proof of the donor's identity, genuineness of the transaction and creditworthiness; as that verification was incomplete and the appellate relief lacked adequate inquiry, the matter was remanded for de novo examination. Case-Laws Income Tax Fri, 10 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791790