https://www.taxtmi.com/caselaws?id=769305 ITAT Pune allowed the appeal, setting aside CIT(A)/NFAC order and directing deletion of Rs. 9 lakh addition. The assessee had opted for income declaration under section 44AD and declared income under Income Tax Declaration Scheme 2016 for AY 2013-14. The tribunal held that unexplained bank receipts and withdrawals, including Rs. 9 lakh received as loan against FD, cannot be considered business receipts. Since the assessee already declared income under the presumptive scheme and declaration scheme, the AO was not justified in making the addition for assessment year 2013-14. en-us Mon, 21 Apr 2025 00:00:00 +0530 Wed, 23 Apr 2025 09:09:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769305 ITAT Pune allowed the appeal, setting aside CIT(A)/NFAC order and directing deletion of Rs. 9 lakh addition. The assessee had opted for income declaration under section 44AD and declared income under Income Tax Declaration Scheme 2016 for AY 2013-14. The tribunal held that unexplained bank receipts and withdrawals, including Rs. 9 lakh received as loan against FD, cannot be considered business receipts. Since the assessee already declared income under the presumptive scheme and declaration scheme, the AO was not justified in making the addition for assessment year 2013-14. Case-Laws Income Tax Mon, 21 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769305