https://www.taxtmi.com/caselaws?id=786792 Where an assessee validly elects and declares income under the presumptive taxation scheme, the scheme itself determines taxable income and the Assessing Officer cannot treat individual cash bank deposits as unexplained income merely for lack of separate explanations; the Tribunal applied the principle that showing income at the presumptive rate negates any obligation to account for each bank entry and disfavors further additions for non compliance, upheld deletion of the addition to income made on account of cash deposits and allowed the appeal in favour of the assessee. en-us Tue, 17 Feb 2026 00:00:00 +0530 Thu, 19 Feb 2026 07:58:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786792 Where an assessee validly elects and declares income under the presumptive taxation scheme, the scheme itself determines taxable income and the Assessing Officer cannot treat individual cash bank deposits as unexplained income merely for lack of separate explanations; the Tribunal applied the principle that showing income at the presumptive rate negates any obligation to account for each bank entry and disfavors further additions for non compliance, upheld deletion of the addition to income made on account of cash deposits and allowed the appeal in favour of the assessee. Case-Laws Income Tax Tue, 17 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786792