https://www.taxtmi.com/caselaws?id=468654 Where income is estimated under the presumptive taxation scheme of section 44AD, business-linked cash deposits in the assessee's bank account must be assessed consistently with that estimation and not treated as unexplained credits in full. Since the lower authorities had already applied the presumptive rate to estimate turnover, the cash deposits were inferable as part of the same business activity. The peak cash credit could therefore not be sustained at the full credited amount and was directed to be taxed only on the presumptive basis, giving partial relief to the assessee. en-us Wed, 05 Feb 2025 00:00:00 +0530 Fri, 15 May 2026 20:34:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468654 Where income is estimated under the presumptive taxation scheme of section 44AD, business-linked cash deposits in the assessee's bank account must be assessed consistently with that estimation and not treated as unexplained credits in full. Since the lower authorities had already applied the presumptive rate to estimate turnover, the cash deposits were inferable as part of the same business activity. The peak cash credit could therefore not be sustained at the full credited amount and was directed to be taxed only on the presumptive basis, giving partial relief to the assessee. Case-Laws Income Tax Wed, 05 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468654