https://www.taxtmi.com/caselaws?id=778990 ITAT held that credit entries totalling Rs.3,41,39,137 and an additional Rs.21,00,000 deposited during demonetization must be treated uniformly as business receipts. The AO was directed to include Rs.3,62,39,397 (3,41,39,397 + 21,00,000) in turnover and estimate profit at 8% thereon; tax on that 8% to be at the normal rate applied to the earlier alleged addition. The appeal was partly allowed. en-us Fri, 17 Jan 2025 00:00:00 +0530 Fri, 26 Sep 2025 08:26:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778990 ITAT held that credit entries totalling Rs.3,41,39,137 and an additional Rs.21,00,000 deposited during demonetization must be treated uniformly as business receipts. The AO was directed to include Rs.3,62,39,397 (3,41,39,397 + 21,00,000) in turnover and estimate profit at 8% thereon; tax on that 8% to be at the normal rate applied to the earlier alleged addition. The appeal was partly allowed. Case-Laws Income Tax Fri, 17 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778990