https://www.taxtmi.com/caselaws?id=781777 ITAT Rajkot allowed the assessee's appeal and deleted the addition made as unexplained money under s. 69A. The Tribunal held that the assessee had already disclosed the cash deposits as business turnover and paid tax under the presumptive scheme of s. 44AD, where maintenance of books is not mandatory for small businesses dealing in normal cash transactions. The AO and CIT(A) erred by treating cash deposits as unexplained solely on the basis of bank entries without considering corresponding withdrawals and the income already taxed. As legitimate tax on such turnover was paid, no further tax liability survived. en-us Wed, 15 Oct 2025 00:00:00 +0530 Thu, 20 Nov 2025 08:42:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781777 ITAT Rajkot allowed the assessee's appeal and deleted the addition made as unexplained money under s. 69A. The Tribunal held that the assessee had already disclosed the cash deposits as business turnover and paid tax under the presumptive scheme of s. 44AD, where maintenance of books is not mandatory for small businesses dealing in normal cash transactions. The AO and CIT(A) erred by treating cash deposits as unexplained solely on the basis of bank entries without considering corresponding withdrawals and the income already taxed. As legitimate tax on such turnover was paid, no further tax liability survived. Case-Laws Income Tax Wed, 15 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781777