https://www.taxtmi.com/caselaws?id=469987 Cash deposits reflected in audited books as business receipts and cash sales cannot be treated as unexplained income under section 68 when the assessee supports them with vouchers, bills, regular records and software-based entries, and no adverse material, stock discrepancy or specific defect is found. Rejection of the cash book under section 145(3) requires concrete defects and cannot rest on suspicion or conjecture. On the facts noted, the addition was deleted because the source of the deposits was explained through recorded business receipts, and the Revenue's challenge failed. en-us Wed, 15 May 2024 00:00:00 +0530 Sat, 11 Jul 2026 11:20:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469987 Cash deposits reflected in audited books as business receipts and cash sales cannot be treated as unexplained income under section 68 when the assessee supports them with vouchers, bills, regular records and software-based entries, and no adverse material, stock discrepancy or specific defect is found. Rejection of the cash book under section 145(3) requires concrete defects and cannot rest on suspicion or conjecture. On the facts noted, the addition was deleted because the source of the deposits was explained through recorded business receipts, and the Revenue's challenge failed. Case-Laws Income Tax Wed, 15 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469987