https://www.taxtmi.com/caselaws?id=472240 Recorded petrol and diesel sale proceeds, supported by unrejected books, stock availability and sales records, do not become unexplained cash credits merely because specified bank notes were accepted during demonetisation; taxing them separately would duplicate taxation of the reported profit. Customer advances supported by booking orders, invoices, affidavits, identity documents and ledgers cannot be treated as unexplained credits merely because partial receipts were not completed sales. Corroborative additional evidence relevant to those advances should not be refused where refusal would breach natural justice. Application of Section 68 requires the recorded receipts or supporting evidence to be discredited. en-us Thu, 17 Apr 2025 00:00:00 +0530 Mon, 05 Oct 2026 19:38:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472240 Recorded petrol and diesel sale proceeds, supported by unrejected books, stock availability and sales records, do not become unexplained cash credits merely because specified bank notes were accepted during demonetisation; taxing them separately would duplicate taxation of the reported profit. Customer advances supported by booking orders, invoices, affidavits, identity documents and ledgers cannot be treated as unexplained credits merely because partial receipts were not completed sales. Corroborative additional evidence relevant to those advances should not be refused where refusal would breach natural justice. Application of Section 68 requires the recorded receipts or supporting evidence to be discredited. Case-Laws Income Tax Thu, 17 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472240