https://www.taxtmi.com/caselaws?id=792270 Amounts recorded in duly audited books of account could not be added as unexplained money under section 69A merely because the Assessing Officer remained unsatisfied with the explanation. Where the bank book and allied records were audited, the books were not rejected, and the difference between bank credits and turnover was supported by reconciliation, confirmations, advances, refunds and third-party settlements recorded in the accounts, the addition was unsustainable. The decision emphasised that a mere lack of further verification, without meaningful enquiry or use of available enquiry powers, does not justify treating accounted receipts as unexplained. The addition was deleted. en-us Fri, 08 May 2026 00:00:00 +0530 Tue, 26 May 2026 08:24:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792270 Amounts recorded in duly audited books of account could not be added as unexplained money under section 69A merely because the Assessing Officer remained unsatisfied with the explanation. Where the bank book and allied records were audited, the books were not rejected, and the difference between bank credits and turnover was supported by reconciliation, confirmations, advances, refunds and third-party settlements recorded in the accounts, the addition was unsustainable. The decision emphasised that a mere lack of further verification, without meaningful enquiry or use of available enquiry powers, does not justify treating accounted receipts as unexplained. The addition was deleted. Case-Laws Income Tax Fri, 08 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792270