https://www.taxtmi.com/caselaws?id=786069 Where cash deposits in bank accounts were linked to petty electrical contracting activity, only the income element embedded in gross receipts can be taxed rather than the entire deposits; the tribunal accepted application of presumptive taxation under section 44AD and adjusted the assessment to reflect business receipts. The tribunal preferred a compromise net profit rate above the assessee's claim but below the department's suggestion, and therefore estimated taxable income by applying a 12% net profit rate on gross receipts, allowing the appeal partly. en-us Tue, 03 Feb 2026 00:00:00 +0530 Thu, 05 Feb 2026 09:16:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786069 Where cash deposits in bank accounts were linked to petty electrical contracting activity, only the income element embedded in gross receipts can be taxed rather than the entire deposits; the tribunal accepted application of presumptive taxation under section 44AD and adjusted the assessment to reflect business receipts. The tribunal preferred a compromise net profit rate above the assessee's claim but below the department's suggestion, and therefore estimated taxable income by applying a 12% net profit rate on gross receipts, allowing the appeal partly. Case-Laws Income Tax Tue, 03 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786069