https://www.taxtmi.com/caselaws?id=793474 Where bogus turnover is estimated to yield commission income, income already disclosed on the same transactions may be telescoped against the estimated addition, but only to the extent of net income actually offered in the return; the gross profit from non-genuine business transactions is not available for such set-off. Cash deposits made during demonetisation were not treated as unexplained money because the assessee substantiated cash withdrawals, availability of cash balance, and subsequent redeposit through bank statements and books. Credit for self-assessment tax was to be allowed after factual verification, with the matter restored to the Assessing Officer for that limited purpose. en-us Mon, 18 May 2026 00:00:00 +0530 Wed, 17 Jun 2026 07:46:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793474 Where bogus turnover is estimated to yield commission income, income already disclosed on the same transactions may be telescoped against the estimated addition, but only to the extent of net income actually offered in the return; the gross profit from non-genuine business transactions is not available for such set-off. Cash deposits made during demonetisation were not treated as unexplained money because the assessee substantiated cash withdrawals, availability of cash balance, and subsequent redeposit through bank statements and books. Credit for self-assessment tax was to be allowed after factual verification, with the matter restored to the Assessing Officer for that limited purpose. Case-Laws Income Tax Mon, 18 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793474