https://www.taxtmi.com/caselaws?id=796604 Cash deposits substantially linked to disclosed turnover from a genuine medical business should be treated as business receipts rather than wholly as unexplained money where licences, VAT/GST records, books, purchase and sale documents, and financial statements support the business and no defect is found in reported sales or VAT returns. The gross deposits cannot be assessed without recognising the expenditure and profit element inherent in trading receipts. Based on the nature of the trade and comparable profit ratios, profit was considered assessable at 5% of the deposits, subject to the applicable basic exemption limit. en-us Fri, 31 Jul 2026 00:00:00 +0530 Fri, 07 Aug 2026 09:07:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796604 Cash deposits substantially linked to disclosed turnover from a genuine medical business should be treated as business receipts rather than wholly as unexplained money where licences, VAT/GST records, books, purchase and sale documents, and financial statements support the business and no defect is found in reported sales or VAT returns. The gross deposits cannot be assessed without recognising the expenditure and profit element inherent in trading receipts. Based on the nature of the trade and comparable profit ratios, profit was considered assessable at 5% of the deposits, subject to the applicable basic exemption limit. Case-Laws Income Tax Fri, 31 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796604