https://www.taxtmi.com/caselaws?id=796075 Recorded cash deposits during demonetisation were explained where audited books showed sufficient cash-in-hand, supporting records were produced, and no defect in the books was identified or the books rejected. Unserved notices to certain borrowers did not by themselves disprove recorded cash recoveries, particularly where notice details were not supplied. Ad hoc disallowance of commission expenditure lacked a specific basis after acceptance of the books. Likewise, percentage-based disallowance of travel expenditure was impermissible without identifying non-business or personal expenditure, where travel related to loan recovery and field verification in a non-banking financial business. The appellate deletion of the cash-deposit addition and both expense disallowances remained undisturbed. en-us Wed, 27 May 2026 00:00:00 +0530 Fri, 31 Jul 2026 08:27:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796075 Recorded cash deposits during demonetisation were explained where audited books showed sufficient cash-in-hand, supporting records were produced, and no defect in the books was identified or the books rejected. Unserved notices to certain borrowers did not by themselves disprove recorded cash recoveries, particularly where notice details were not supplied. Ad hoc disallowance of commission expenditure lacked a specific basis after acceptance of the books. Likewise, percentage-based disallowance of travel expenditure was impermissible without identifying non-business or personal expenditure, where travel related to loan recovery and field verification in a non-banking financial business. The appellate deletion of the cash-deposit addition and both expense disallowances remained undisturbed. Case-Laws Income Tax Wed, 27 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796075