https://www.taxtmi.com/caselaws?id=772512 In the absence of a regular return, business income was estimated on a best judgment basis under section 44AD, and the addition was sustained because the available material supported estimation of profit from the assessee's business activity. The cash deposits made during the demonetisation period were not separately taxable as income from other sources after the business income had already been estimated, because the same funds could not be brought to tax again; telescoping was applied to prevent double addition. The business-income addition was therefore maintained, while the separate addition for cash deposits was deleted. en-us Wed, 30 Apr 2025 00:00:00 +0530 Tue, 10 Jun 2025 08:43:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772512 In the absence of a regular return, business income was estimated on a best judgment basis under section 44AD, and the addition was sustained because the available material supported estimation of profit from the assessee's business activity. The cash deposits made during the demonetisation period were not separately taxable as income from other sources after the business income had already been estimated, because the same funds could not be brought to tax again; telescoping was applied to prevent double addition. The business-income addition was therefore maintained, while the separate addition for cash deposits was deleted. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772512