https://www.taxtmi.com/caselaws?id=800225 Cash deposits linked to disclosed business sales under presumptive taxation may not be treated as unexplained cash credits merely because their ratio to turnover differs from an earlier year. The unexplained-credit provision applies to sums credited in books of account, while taxpayers using the presumptive scheme need not maintain regular books in the prescribed manner. Where declared turnover has not been rejected, purchases and stock are not adversely found, and sales, purchase and stock details support the cash-sales explanation, independent evidence is required to establish an undisclosed source unrelated to the business. In those circumstances, the deposits are treated as disclosed business receipts rather than unexplained credits. en-us Fri, 18 Sep 2026 00:00:00 +0530 Sat, 03 Oct 2026 09:32:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800225 Cash deposits linked to disclosed business sales under presumptive taxation may not be treated as unexplained cash credits merely because their ratio to turnover differs from an earlier year. The unexplained-credit provision applies to sums credited in books of account, while taxpayers using the presumptive scheme need not maintain regular books in the prescribed manner. Where declared turnover has not been rejected, purchases and stock are not adversely found, and sales, purchase and stock details support the cash-sales explanation, independent evidence is required to establish an undisclosed source unrelated to the business. In those circumstances, the deposits are treated as disclosed business receipts rather than unexplained credits. Case-Laws Income Tax Fri, 18 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800225