https://www.taxtmi.com/caselaws?id=782291 ITAT Pune held that cash deposits in the assessee's bank account were linked to scrap trading, an unorganised business with customary cash dealings involving small vendors and buyers. On examining the bank statement, the Tribunal found that total credits of about Rs. 38.30 lakh included contra entries of Rs. 13.46 lakh, resulting in effective credits of Rs. 24.83 lakh. Considering possible unbanked cash sales, total turnover was estimated at Rs. 30 lakh and net profit at 8% (Rs. 2,40,000). The addition u/s 68 was replaced by this estimated profit; appeal partly allowed. en-us Thu, 31 Jul 2025 00:00:00 +0530 Thu, 27 Nov 2025 08:36:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782291 ITAT Pune held that cash deposits in the assessee's bank account were linked to scrap trading, an unorganised business with customary cash dealings involving small vendors and buyers. On examining the bank statement, the Tribunal found that total credits of about Rs. 38.30 lakh included contra entries of Rs. 13.46 lakh, resulting in effective credits of Rs. 24.83 lakh. Considering possible unbanked cash sales, total turnover was estimated at Rs. 30 lakh and net profit at 8% (Rs. 2,40,000). The addition u/s 68 was replaced by this estimated profit; appeal partly allowed. Case-Laws Income Tax Thu, 31 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782291