https://www.taxtmi.com/caselaws?id=471690 Section 40A(3) does not apply to recorded cash withdrawals from a bank account because a withdrawal is not expenditure. Disallowance for those withdrawals was therefore deleted. Cash deposits recorded in the cash book and substantially traceable to corresponding recorded withdrawals have an explained source, requiring deletion of the unexplained-money addition. Turnover additions based on an arbitrary standard sale rate cannot stand where recorded sale rates vary and no evidence establishes unrecorded sales, suppression of turnover, or stock variation. Assessed income must be recomputed after excluding these additions. en-us Wed, 09 Apr 2025 00:00:00 +0530 Mon, 14 Sep 2026 19:03:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471690 Section 40A(3) does not apply to recorded cash withdrawals from a bank account because a withdrawal is not expenditure. Disallowance for those withdrawals was therefore deleted. Cash deposits recorded in the cash book and substantially traceable to corresponding recorded withdrawals have an explained source, requiring deletion of the unexplained-money addition. Turnover additions based on an arbitrary standard sale rate cannot stand where recorded sale rates vary and no evidence establishes unrecorded sales, suppression of turnover, or stock variation. Assessed income must be recomputed after excluding these additions. Case-Laws Income Tax Wed, 09 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471690