https://www.taxtmi.com/caselaws?id=772292 ITAT Cuttack held that cash deposits made during demonetization period cannot be treated differently from other business receipts. The tribunal ruled that entire bank deposits of Rs. 66,53,561/- should be considered as business turnover, with net profit estimated at 8% under section 44AD, resulting in taxable income of Rs. 5,32,285/- instead of the entire deposit amount assessed by AO. Appeal was partly allowed with consequential relief granted to assessee. en-us Wed, 04 Jun 2025 00:00:00 +0530 Fri, 06 Jun 2025 08:30:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772292 ITAT Cuttack held that cash deposits made during demonetization period cannot be treated differently from other business receipts. The tribunal ruled that entire bank deposits of Rs. 66,53,561/- should be considered as business turnover, with net profit estimated at 8% under section 44AD, resulting in taxable income of Rs. 5,32,285/- instead of the entire deposit amount assessed by AO. Appeal was partly allowed with consequential relief granted to assessee. Case-Laws Income Tax Wed, 04 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772292