https://www.taxtmi.com/caselaws?id=391498 The Tribunal partially allowed the appeals by deleting additions under section 68 for unexplained cash deposits. It emphasized the need for concrete evidence to refute the assessee's claim of contract work involvement, stating that mere suspicion is inadequate for additions. The Tribunal upheld the applicability of section 44AD, simplifying tax compliance for small traders and exempting them from detailed bookkeeping requirements. The AO's conclusions were criticized as being based on suspicion rather than proof, with the Tribunal citing precedents that once income is accepted under section 44AD, further additions for accounting discrepancies are impermissible. en-us Mon, 27 Jan 2020 00:00:00 +0530 Wed, 29 Jan 2020 18:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391498 The Tribunal partially allowed the appeals by deleting additions under section 68 for unexplained cash deposits. It emphasized the need for concrete evidence to refute the assessee's claim of contract work involvement, stating that mere suspicion is inadequate for additions. The Tribunal upheld the applicability of section 44AD, simplifying tax compliance for small traders and exempting them from detailed bookkeeping requirements. The AO's conclusions were criticized as being based on suspicion rather than proof, with the Tribunal citing precedents that once income is accepted under section 44AD, further additions for accounting discrepancies are impermissible. Case-Laws Income Tax Mon, 27 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391498