https://www.taxtmi.com/caselaws?id=774515 The ITAT Indore held that the unexplained cash deposits during demonetisation, attributed to the jewellery business of the deceased assessee, should be assessed as additional business income under section 44AD at 8%. The AO's addition under section 69A read with 115BBE was modified by accepting the turnover of Rs. 94,80,810/- as business sales and applying the same 8% rate to the excess deposits of Rs. 1,00,86,463/-. The AO was directed to assess Rs. 8,06,917/- as additional income and delete the excess addition. en-us Wed, 01 Jan 2025 00:00:00 +0530 Fri, 01 Aug 2025 11:50:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774515 The ITAT Indore held that the unexplained cash deposits during demonetisation, attributed to the jewellery business of the deceased assessee, should be assessed as additional business income under section 44AD at 8%. The AO's addition under section 69A read with 115BBE was modified by accepting the turnover of Rs. 94,80,810/- as business sales and applying the same 8% rate to the excess deposits of Rs. 1,00,86,463/-. The AO was directed to assess Rs. 8,06,917/- as additional income and delete the excess addition. Case-Laws Income Tax Wed, 01 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774515