https://www.taxtmi.com/caselaws?id=798963 Rule 46A permits admission of material additional evidence where a filed application and supporting affidavit establish its relevance to disputed audit and accounting findings. Rejection of books of account does not justify ad hoc profit estimation; any estimate requires a rational comparative or historical basis, including prior gross-profit or net-profit results. Cash deposits supported by cash-book entries, regular business receipts and prior withdrawals cannot be treated as unexplained merely because they were deposited in instalments during demonetisation. Section 68 applies to sums credited during the relevant year, not to an opening trade-creditor balance reclassified as an unsecured loan without any fresh receipt or credit. en-us Wed, 02 Sep 2026 00:00:00 +0530 Tue, 15 Sep 2026 08:31:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798963 Rule 46A permits admission of material additional evidence where a filed application and supporting affidavit establish its relevance to disputed audit and accounting findings. Rejection of books of account does not justify ad hoc profit estimation; any estimate requires a rational comparative or historical basis, including prior gross-profit or net-profit results. Cash deposits supported by cash-book entries, regular business receipts and prior withdrawals cannot be treated as unexplained merely because they were deposited in instalments during demonetisation. Section 68 applies to sums credited during the relevant year, not to an opening trade-creditor balance reclassified as an unsecured loan without any fresh receipt or credit. Case-Laws Income Tax Wed, 02 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798963