https://www.taxtmi.com/caselaws?id=776096 Under the presumptive taxation scheme in Section 44AD, an addition made by enhancing gross profit on cash sales is not sustainable where the assessee's book results are not rejected in principle. The analysis states that once the declared business receipts are accepted under the scheme, a further gross profit enhancement based only on cash sales deposits in bank would defeat the object of presumptive taxation. The issue was therefore decided in favour of the assessee, and the addition was held unsustainable. en-us Thu, 02 Jan 2025 00:00:00 +0530 Tue, 05 Aug 2025 07:54:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776096 Under the presumptive taxation scheme in Section 44AD, an addition made by enhancing gross profit on cash sales is not sustainable where the assessee's book results are not rejected in principle. The analysis states that once the declared business receipts are accepted under the scheme, a further gross profit enhancement based only on cash sales deposits in bank would defeat the object of presumptive taxation. The issue was therefore decided in favour of the assessee, and the addition was held unsustainable. Case-Laws Income Tax Thu, 02 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776096