https://www.taxtmi.com/caselaws?id=472426 Section 44AD provides presumptive taxation without requiring the assessee to maintain books of account. Because section 68 operates on credits recorded in books, cash deposits cannot be assessed as unexplained credits where no relevant book entry exists. Restrictions introduced by an amendment concerning cash deposits under section 44AD do not apply to an earlier relevant assessment year. These considerations govern whether revisionary jurisdiction may be invoked on the ground that the original assessment was erroneous and prejudicial to Revenue. en-us Tue, 19 Nov 2024 00:00:00 +0530 Tue, 13 Oct 2026 04:47:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472426 Section 44AD provides presumptive taxation without requiring the assessee to maintain books of account. Because section 68 operates on credits recorded in books, cash deposits cannot be assessed as unexplained credits where no relevant book entry exists. Restrictions introduced by an amendment concerning cash deposits under section 44AD do not apply to an earlier relevant assessment year. These considerations govern whether revisionary jurisdiction may be invoked on the ground that the original assessment was erroneous and prejudicial to Revenue. Case-Laws Income Tax Tue, 19 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472426