https://www.taxtmi.com/caselaws?id=386862 The Tribunal partially allowed the appeals for AY 2010-11 and AY 2009-10, emphasizing the systematic nature of the appellant's retail business to justify cash deposits and withdrawals. The Tribunal accepted the cash deposits as attributable to retail trade, estimating business income at 5% of total turnover under Section 44AF of the Act. For AY 2010-11, the income from cash deposits was restricted to Rs. 1,67,131, directing the AO to adjust the income accordingly. Similarly, for AY 2009-10, income was estimated at 5% of cash deposits, partially allowing the appeal. en-us Wed, 11 Sep 2019 00:00:00 +0530 Thu, 10 Oct 2019 16:31:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386862 The Tribunal partially allowed the appeals for AY 2010-11 and AY 2009-10, emphasizing the systematic nature of the appellant's retail business to justify cash deposits and withdrawals. The Tribunal accepted the cash deposits as attributable to retail trade, estimating business income at 5% of total turnover under Section 44AF of the Act. For AY 2010-11, the income from cash deposits was restricted to Rs. 1,67,131, directing the AO to adjust the income accordingly. Similarly, for AY 2009-10, income was estimated at 5% of cash deposits, partially allowing the appeal. Case-Laws Income Tax Wed, 11 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386862