https://www.taxtmi.com/caselaws?id=793796 Cash deposits in a business bank account cannot be deleted from addition merely by treating them as turnover and applying an estimated profit rate unless reliable evidence shows they were actual business receipts. Where the books, receipts-and-payments account, and audit compliance are deficient, and the record does not establish that the deposits were sourced from travel agency receipts or passed on to principals in the ordinary course of business, the factual basis for deletion is unsustainable. The matter was therefore remitted for fresh adjudication, with the assessee to substantiate the source of the cash deposits and, if proved as business receipts, the addition to be confined to the income element only. en-us Fri, 12 Jun 2026 00:00:00 +0530 Wed, 24 Jun 2026 07:08:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793796 Cash deposits in a business bank account cannot be deleted from addition merely by treating them as turnover and applying an estimated profit rate unless reliable evidence shows they were actual business receipts. Where the books, receipts-and-payments account, and audit compliance are deficient, and the record does not establish that the deposits were sourced from travel agency receipts or passed on to principals in the ordinary course of business, the factual basis for deletion is unsustainable. The matter was therefore remitted for fresh adjudication, with the assessee to substantiate the source of the cash deposits and, if proved as business receipts, the addition to be confined to the income element only. Case-Laws Income Tax Fri, 12 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793796