https://www.taxtmi.com/caselaws?id=797603 Unexplained cash credits described as advances against future sales require independent evidence of the customers' identity, creditworthiness and the genuineness of the transactions; self-maintained ledgers and matching subsequent sales entries do not establish the original credits. The addition was therefore sustained. Where no binding jurisdictional or Supreme Court authority resolves divergent interpretations of a taxing amendment, the interpretation favourable to the assessee applies. The enhanced tax rate under amended section 115BBE was prospective from assessment year 2018-19 and did not apply to assessment year 2017-18; the sustained addition was taxable at the pre-amendment rate. en-us Fri, 21 Aug 2026 00:00:00 +0530 Tue, 25 Aug 2026 08:34:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797603 Unexplained cash credits described as advances against future sales require independent evidence of the customers' identity, creditworthiness and the genuineness of the transactions; self-maintained ledgers and matching subsequent sales entries do not establish the original credits. The addition was therefore sustained. Where no binding jurisdictional or Supreme Court authority resolves divergent interpretations of a taxing amendment, the interpretation favourable to the assessee applies. The enhanced tax rate under amended section 115BBE was prospective from assessment year 2018-19 and did not apply to assessment year 2017-18; the sustained addition was taxable at the pre-amendment rate. Case-Laws Income Tax Fri, 21 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797603