https://www.taxtmi.com/caselaws?id=777400 Cash deposits linked to an assessee's already accepted business turnover under section 44AD were treated as business receipts rather than unexplained credits or investments under sections 68 and 69. On that factual basis, the deposits were regarded as prima facie connected with the same business activity, so the presumptive rate was applied instead of adding them as unexplained income. The income from those deposits was therefore to be assessed at 8% as business receipts. en-us Thu, 09 Jan 2025 00:00:00 +0530 Fri, 29 Aug 2025 08:56:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777400 Cash deposits linked to an assessee's already accepted business turnover under section 44AD were treated as business receipts rather than unexplained credits or investments under sections 68 and 69. On that factual basis, the deposits were regarded as prima facie connected with the same business activity, so the presumptive rate was applied instead of adding them as unexplained income. The income from those deposits was therefore to be assessed at 8% as business receipts. Case-Laws Income Tax Thu, 09 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777400