https://www.taxtmi.com/caselaws?id=783373 ITAT partly allowed the assessee's appeal. The assessee, a mango trader regularly declaring income u/s 44AD at around 8-8.3%, was subjected by AO to an addition of 10% on total non-cash deposits and separate addition of entire cash deposits u/s 69A. ITAT held that AO brought no evidence to justify enhancement of profit rate to 10% and directed application of 8.3% on non-cash deposits, restricting the addition to Rs. 8,78,625/-. For cash deposits, ITAT held that only the embedded profit is taxable since trading activity is accepted, and directed AO to tax profit at 8.3% on such deposits. en-us Thu, 27 Nov 2025 00:00:00 +0530 Mon, 15 Dec 2025 08:39:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783373 ITAT partly allowed the assessee's appeal. The assessee, a mango trader regularly declaring income u/s 44AD at around 8-8.3%, was subjected by AO to an addition of 10% on total non-cash deposits and separate addition of entire cash deposits u/s 69A. ITAT held that AO brought no evidence to justify enhancement of profit rate to 10% and directed application of 8.3% on non-cash deposits, restricting the addition to Rs. 8,78,625/-. For cash deposits, ITAT held that only the embedded profit is taxable since trading activity is accepted, and directed AO to tax profit at 8.3% on such deposits. Case-Laws Income Tax Thu, 27 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783373