https://www.taxtmi.com/caselaws?id=799427 Cash deposited during demonetisation by a small trading business was explained by accepted presumptive turnover and income. Where income is computed under the presumptive taxation scheme and the taxpayer is not legally required to maintain or audit books, internally prepared records cannot alone negate the explanation. The deposit therefore could not be treated as unexplained money or taxed at the special rate. en-us Wed, 29 Jul 2026 00:00:00 +0530 Tue, 22 Sep 2026 08:17:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799427 Cash deposited during demonetisation by a small trading business was explained by accepted presumptive turnover and income. Where income is computed under the presumptive taxation scheme and the taxpayer is not legally required to maintain or audit books, internally prepared records cannot alone negate the explanation. The deposit therefore could not be treated as unexplained money or taxed at the special rate. Case-Laws Income Tax Wed, 29 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799427