https://www.taxtmi.com/caselaws?id=792496 Cash deposits explained as recorded cash sales cannot be brought to tax under section 68 where the assessee supports the explanation with books and contemporaneous records, and the books of account are not rejected. The assessee relied on stock register, VAT returns, sales invoices, cash book, bank statement and comparative sales data to show that the deposits matched its cash sales pattern. Because the revenue merely doubted the source of deposits without dislodging the recorded sales evidence or rejecting the books, the deeming addition was not sustainable and was deleted. en-us Fri, 24 Apr 2026 00:00:00 +0530 Fri, 29 May 2026 08:59:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792496 Cash deposits explained as recorded cash sales cannot be brought to tax under section 68 where the assessee supports the explanation with books and contemporaneous records, and the books of account are not rejected. The assessee relied on stock register, VAT returns, sales invoices, cash book, bank statement and comparative sales data to show that the deposits matched its cash sales pattern. Because the revenue merely doubted the source of deposits without dislodging the recorded sales evidence or rejecting the books, the deeming addition was not sustainable and was deleted. Case-Laws Income Tax Fri, 24 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792496