https://www.taxtmi.com/highlights?id=52904 Cash deposits in bank account as unexplained cash deposits - cash deposits pertained to assessee's retail business - Since the assessee has not maintained any books of accounts, hence, in such situation only net profit as per provisions of section 44AD is required to be estimated as net profit and not entire turnover or cash deposits reflected in the bank account. - AT en-us Sat, 11 Apr 2020 17:09:23 +0530 Sat, 11 Apr 2020 17:09:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=52904 Cash deposits in bank account as unexplained cash deposits - cash deposits pertained to assessee's retail business - Since the assessee has not maintained any books of accounts, hence, in such situation only net profit as per provisions of section 44AD is required to be estimated as net profit and not entire turnover or cash deposits reflected in the bank account. - AT Highlights Income Tax Sat, 11 Apr 2020 17:09:23 +0530 https://www.taxtmi.com/highlights?id=52904