https://www.taxtmi.com/caselaws?id=401866 The Tribunal held that all cash deposits in the undisclosed bank account should be treated as business receipts from civil contract work, applying an 8% net profit under Section 44AD for the assessment years in question. The AO and CIT(A) were deemed incorrect in segregating deposits as unexplained investments and business receipts. The appeals were partially allowed in favor of the assessee, directing a uniform treatment of the cash deposits as business income under Section 44AD. en-us Tue, 15 Dec 2020 00:00:00 +0530 Thu, 17 Dec 2020 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401866 The Tribunal held that all cash deposits in the undisclosed bank account should be treated as business receipts from civil contract work, applying an 8% net profit under Section 44AD for the assessment years in question. The AO and CIT(A) were deemed incorrect in segregating deposits as unexplained investments and business receipts. The appeals were partially allowed in favor of the assessee, directing a uniform treatment of the cash deposits as business income under Section 44AD. Case-Laws Income Tax Tue, 15 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401866