https://www.taxtmi.com/highlights?id=65415 Unexplained cash deposits - difference in turnover as unexplained investments - The reasons cited by AO that assessee had failed to file any evidence regarding his business activities is not a good reason as his return of income filed on the basis of same business has been accepted for making additions on account of cash deposits. - AO directed to assess the tax by applying 8% N.P. rate on total deposits - AT en-us Fri, 02 Sep 2022 08:09:52 +0530 Fri, 02 Sep 2022 08:09:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65415 Unexplained cash deposits - difference in turnover as unexplained investments - The reasons cited by AO that assessee had failed to file any evidence regarding his business activities is not a good reason as his return of income filed on the basis of same business has been accepted for making additions on account of cash deposits. - AO directed to assess the tax by applying 8% N.P. rate on total deposits - AT Highlights Income Tax Fri, 02 Sep 2022 08:09:52 +0530 https://www.taxtmi.com/highlights?id=65415