https://www.taxtmi.com/caselaws?id=798216 Accepted trade-creditor liabilities arising from undisputed credit purchases cannot be treated as unexplained cash credits solely because suppliers do not respond to verification notices. Absent material disproving purchases, showing payment of liabilities, or establishing that liabilities are fictitious, the Section 68 addition was deleted. The Form 26AS receipt difference required fresh verification where tax was deducted on gross receipts including service tax that was separately accounted for and excluded from income. Rejection of books and net-profit estimation were also unsustainable where ledgers and major vouchers had been provided, adequate time for remaining vouchers was not granted, and no specific expenditure was found unverifiable. en-us Mon, 31 Aug 2026 00:00:00 +0530 Thu, 03 Sep 2026 08:20:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798216 Accepted trade-creditor liabilities arising from undisputed credit purchases cannot be treated as unexplained cash credits solely because suppliers do not respond to verification notices. Absent material disproving purchases, showing payment of liabilities, or establishing that liabilities are fictitious, the Section 68 addition was deleted. The Form 26AS receipt difference required fresh verification where tax was deducted on gross receipts including service tax that was separately accounted for and excluded from income. Rejection of books and net-profit estimation were also unsustainable where ledgers and major vouchers had been provided, adequate time for remaining vouchers was not granted, and no specific expenditure was found unverifiable. Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798216