https://www.taxtmi.com/caselaws?id=450763 ITAT Surat held that unexplained cash deposits under section 69A should be treated as business turnover and taxed at estimated profit rate of 3.5% under normal tax rates, not under section 115BBE. The tribunal noted no change in assessee's business circumstances from previous assessment year 2013-14 where similar treatment was accepted by Revenue. Additionally, TDS credit on fixed deposit interest was allowed to the assessee in accordance with law. en-us Tue, 27 Feb 2024 00:00:00 +0530 Tue, 12 Mar 2024 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450763 ITAT Surat held that unexplained cash deposits under section 69A should be treated as business turnover and taxed at estimated profit rate of 3.5% under normal tax rates, not under section 115BBE. The tribunal noted no change in assessee's business circumstances from previous assessment year 2013-14 where similar treatment was accepted by Revenue. Additionally, TDS credit on fixed deposit interest was allowed to the assessee in accordance with law. Case-Laws Income Tax Tue, 27 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450763