https://www.taxtmi.com/caselaws?id=773809 ITAT Ahmedabad allowed the appeal of a small trader dealing in kirana items who faced addition under Section 69A for unexplained cash deposits. The assessee, operating under presumptive taxation scheme u/s 44AD without maintaining books, deposited cash amounts less than reported turnover. The tribunal held that since the business involved entirely cash transactions with small hawkers, and deposits were within business turnover limits, no adverse inference could be drawn. The cash deposits were reasonably concluded to be from legitimate business receipts rather than unexplained sources. en-us Fri, 20 Jun 2025 00:00:00 +0530 Sat, 28 Jun 2025 08:31:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773809 ITAT Ahmedabad allowed the appeal of a small trader dealing in kirana items who faced addition under Section 69A for unexplained cash deposits. The assessee, operating under presumptive taxation scheme u/s 44AD without maintaining books, deposited cash amounts less than reported turnover. The tribunal held that since the business involved entirely cash transactions with small hawkers, and deposits were within business turnover limits, no adverse inference could be drawn. The cash deposits were reasonably concluded to be from legitimate business receipts rather than unexplained sources. Case-Laws Income Tax Fri, 20 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773809