https://www.taxtmi.com/caselaws?id=470481 Audited and completed books supported by purchase bills, financial statements, tax audit reports, disclosed sales and recorded cash balances should not be rejected merely because survey-time records were incomplete or sales and cash balances increased compared with earlier years. A sales summary cannot be disregarded without defects in the underlying daily records, particularly where invoices are available and reported sales have been accepted in VAT returns. Cash deposited during demonetisation is explained where it arises from recorded cash sales, is supported by adequate stock, and no adverse material disproves the sales or cash balance. The additions for estimated business profit and unexplained cash deposits were deleted, and declared income was accepted. en-us Fri, 21 Mar 2025 00:00:00 +0530 Tue, 28 Jul 2026 19:00:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470481 Audited and completed books supported by purchase bills, financial statements, tax audit reports, disclosed sales and recorded cash balances should not be rejected merely because survey-time records were incomplete or sales and cash balances increased compared with earlier years. A sales summary cannot be disregarded without defects in the underlying daily records, particularly where invoices are available and reported sales have been accepted in VAT returns. Cash deposited during demonetisation is explained where it arises from recorded cash sales, is supported by adequate stock, and no adverse material disproves the sales or cash balance. The additions for estimated business profit and unexplained cash deposits were deleted, and declared income was accepted. Case-Laws Income Tax Fri, 21 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470481