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Tax Authority Confirms Income Estimation for Businesswoman Using 8% of Receipts, Avoiding Section 68 Cash Deposit Additions.

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....Estimation of income - profit may be taken @8% of the total receipts/ deposits as against the addition made u/s. 68 on account of cash deposit - assesssee is a part time businesswoman and this is the first year of her business venture - order of CIT(A) confirmed - AT....

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