https://www.taxtmi.com/caselaws?id=470743 Regular books of account supported by audited accounts, invoices, bank records and quantitative stock registers cannot be rejected merely because cash withdrawals were made despite available cash balances, without identified defects in the books or stock records. Recorded outward movement of gold bars also corroborated the sales. Cash deposits in specified bank notes were explained by recorded cash sales, reflected in gross turnover and supported by sufficient cash balance, stock records and accepted trading results. Where no material establishes bogus sales or unrecorded cash, sale proceeds already included in turnover cannot be assessed again as unexplained cash credit. The book rejection and cash-credit addition were unsustainable. en-us Fri, 07 Mar 2025 00:00:00 +0530 Thu, 06 Aug 2026 19:34:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470743 Regular books of account supported by audited accounts, invoices, bank records and quantitative stock registers cannot be rejected merely because cash withdrawals were made despite available cash balances, without identified defects in the books or stock records. Recorded outward movement of gold bars also corroborated the sales. Cash deposits in specified bank notes were explained by recorded cash sales, reflected in gross turnover and supported by sufficient cash balance, stock records and accepted trading results. Where no material establishes bogus sales or unrecorded cash, sale proceeds already included in turnover cannot be assessed again as unexplained cash credit. The book rejection and cash-credit addition were unsustainable. Case-Laws Income Tax Fri, 07 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470743