https://www.taxtmi.com/caselaws?id=789566 Where income is already declared under the presumptive taxation scheme, further addition on estimated profit from bank deposits is not justified if the receipt variation is not material on the facts. In a cloth trading matter, the assessee had disclosed income at 8% of declared turnover under Section 44AD while deposits were found in two bank accounts. The ITAT Ahmedabad treated the disputed receipts as not amounting to a material turnover discrepancy and held that the estimated addition made by the Assessing Officer could not stand. The assessee's returned income was therefore accepted and no further addition survived. en-us Wed, 11 Mar 2026 00:00:00 +0530 Fri, 10 Apr 2026 09:00:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789566 Where income is already declared under the presumptive taxation scheme, further addition on estimated profit from bank deposits is not justified if the receipt variation is not material on the facts. In a cloth trading matter, the assessee had disclosed income at 8% of declared turnover under Section 44AD while deposits were found in two bank accounts. The ITAT Ahmedabad treated the disputed receipts as not amounting to a material turnover discrepancy and held that the estimated addition made by the Assessing Officer could not stand. The assessee's returned income was therefore accepted and no further addition survived. Case-Laws Income Tax Wed, 11 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789566