https://www.taxtmi.com/caselaws?id=798284 Cash deposits representing cash sales already recorded in turnover cannot be added again as unexplained cash credits. Where the books debit cash and credit sales, no credit arises in any person's name that creates a liability, and the sales have already entered the computation of taxable income. Section 68 applies only to credited sums not already accounted for in computing income. Rejection of explanations and supporting material without discussion does not support the addition. No statutory restriction equivalent to Section 40A(3) applies to cash sales. The addition of the cash deposits was therefore impermissible and required deletion. en-us Mon, 20 Jul 2026 00:00:00 +0530 Fri, 04 Sep 2026 08:24:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798284 Cash deposits representing cash sales already recorded in turnover cannot be added again as unexplained cash credits. Where the books debit cash and credit sales, no credit arises in any person's name that creates a liability, and the sales have already entered the computation of taxable income. Section 68 applies only to credited sums not already accounted for in computing income. Rejection of explanations and supporting material without discussion does not support the addition. No statutory restriction equivalent to Section 40A(3) applies to cash sales. The addition of the cash deposits was therefore impermissible and required deletion. Case-Laws Income Tax Mon, 20 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798284