https://www.taxtmi.com/caselaws?id=430540 The Tribunal allowed the appellant's appeal against the Commissioner of Income Tax (Appeals) and the Assessing Officer's decision regarding the determination of total income for A.Y. 2011-12. The appellant, a trader under the presumptive scheme u/s 44AD, successfully argued that the cash deposits in the bank account were linked to business receipts, exempting them from maintaining detailed accounts. The Tribunal emphasized the simplification of proceedings for taxpayers under presumptive income schemes and quashed the addition made by the AO, ultimately ruling in favor of the appellant. en-us Tue, 20 Sep 2022 00:00:00 +0530 Mon, 21 Nov 2022 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430540 The Tribunal allowed the appellant's appeal against the Commissioner of Income Tax (Appeals) and the Assessing Officer's decision regarding the determination of total income for A.Y. 2011-12. The appellant, a trader under the presumptive scheme u/s 44AD, successfully argued that the cash deposits in the bank account were linked to business receipts, exempting them from maintaining detailed accounts. The Tribunal emphasized the simplification of proceedings for taxpayers under presumptive income schemes and quashed the addition made by the AO, ultimately ruling in favor of the appellant. Case-Laws Income Tax Tue, 20 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430540