https://www.taxtmi.com/caselaws?id=471086 Bank deposits cannot be taxed twice through inconsistent characterisation as both unexplained credits based on peak balance and business receipts subject to presumptive taxation. Where the same deposits have already been treated as business turnover and taxed on a presumptive basis, a separate addition for unexplained peak deposits is unsustainable. The peak-deposit addition was therefore deleted. en-us Wed, 02 Apr 2025 00:00:00 +0530 Thu, 20 Aug 2026 13:42:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471086 Bank deposits cannot be taxed twice through inconsistent characterisation as both unexplained credits based on peak balance and business receipts subject to presumptive taxation. Where the same deposits have already been treated as business turnover and taxed on a presumptive basis, a separate addition for unexplained peak deposits is unsustainable. The peak-deposit addition was therefore deleted. Case-Laws Income Tax Wed, 02 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471086