https://www.taxtmi.com/caselaws?id=797304 Bank deposits arising from xerox and fabric-trading transactions cannot be assessed in full as unexplained cash credits where the related withdrawals, transaction details and stock particulars indicate genuine business activity. Although handmade supporting bills were not accepted as reliable, taxation must be confined to the income element embedded in alleged bogus cash receipts rather than the gross deposits. Applying the presumptive-taxation standard, income is estimated at 8% of the cash receipts deposited in the bank account. en-us Thu, 13 Aug 2026 00:00:00 +0530 Thu, 20 Aug 2026 08:14:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797304 Bank deposits arising from xerox and fabric-trading transactions cannot be assessed in full as unexplained cash credits where the related withdrawals, transaction details and stock particulars indicate genuine business activity. Although handmade supporting bills were not accepted as reliable, taxation must be confined to the income element embedded in alleged bogus cash receipts rather than the gross deposits. Applying the presumptive-taxation standard, income is estimated at 8% of the cash receipts deposited in the bank account. Case-Laws Income Tax Thu, 13 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797304