https://www.taxtmi.com/caselaws?id=472023 Section 68 requires a satisfactory explanation for cash deposits, but available evidence should not be wholly disregarded where it partly substantiates the source; the unexplained-credit addition was therefore restricted. Section 115BBE applied only to transactions occurring on or after 1 April 2017 and did not apply to earlier transactions. Where the return was late and books were unaudited, net business profit could be estimated at 8% of accepted turnover, so that addition remained sustained. en-us Tue, 15 Apr 2025 00:00:00 +0530 Sun, 27 Sep 2026 15:27:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472023 Section 68 requires a satisfactory explanation for cash deposits, but available evidence should not be wholly disregarded where it partly substantiates the source; the unexplained-credit addition was therefore restricted. Section 115BBE applied only to transactions occurring on or after 1 April 2017 and did not apply to earlier transactions. Where the return was late and books were unaudited, net business profit could be estimated at 8% of accepted turnover, so that addition remained sustained. Case-Laws Income Tax Tue, 15 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472023