https://www.taxtmi.com/caselaws?id=777125 Cash deposits were examined against business receipts claimed under the presumptive taxation scheme in section 44AD of the Income-tax Act, 1961. The direct nexus between the trading turnover and the deposits was not fully established, but the complete treatment of the deposits as unexplained income was considered unjustified on the facts. The addition was therefore restricted on an estimated basis to a reasonable balance amount instead of sustaining the entire cash deposit addition, resulting in partial relief to the assessee. en-us Wed, 08 Jan 2025 00:00:00 +0530 Mon, 25 Aug 2025 08:40:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777125 Cash deposits were examined against business receipts claimed under the presumptive taxation scheme in section 44AD of the Income-tax Act, 1961. The direct nexus between the trading turnover and the deposits was not fully established, but the complete treatment of the deposits as unexplained income was considered unjustified on the facts. The addition was therefore restricted on an estimated basis to a reasonable balance amount instead of sustaining the entire cash deposit addition, resulting in partial relief to the assessee. Case-Laws Income Tax Wed, 08 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777125