https://www.taxtmi.com/caselaws?id=471477 Rejection of books of account requires identified defects in the accounting method, entries, or supporting records; non-receipt of third-party information alone is insufficient where relevant financial and transactional records are produced. Estimated gross-profit additions require a rational evidentiary basis, such as comparable cases, industry standards, or material showing income suppression, particularly where declared margins are consistent with prior years. Cash deposits recorded in the cash book and explained by earlier withdrawals cannot be treated as unexplained money without adverse evidence disproving their source. Suspicion does not replace evidence, and consistency in corresponding transactions remains relevant. en-us Tue, 08 Apr 2025 00:00:00 +0530 Thu, 03 Sep 2026 18:41:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471477 Rejection of books of account requires identified defects in the accounting method, entries, or supporting records; non-receipt of third-party information alone is insufficient where relevant financial and transactional records are produced. Estimated gross-profit additions require a rational evidentiary basis, such as comparable cases, industry standards, or material showing income suppression, particularly where declared margins are consistent with prior years. Cash deposits recorded in the cash book and explained by earlier withdrawals cannot be treated as unexplained money without adverse evidence disproving their source. Suspicion does not replace evidence, and consistency in corresponding transactions remains relevant. Case-Laws Income Tax Tue, 08 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471477