Court Confirms Income as Business Income u/s 44AD Due to Evidence of Business Activities in Bank Transactions.

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....Business income v/s undisclosed income - If the assessee had shown income u/s.44AD which is presumptive basis for taxation and looking to the nature of bank account entries and regular cash deposits and withdrawals this shows that assessee was doing some kind of business activities and preponderance of probabilities for such activities is definitely goes in favour of the assessee. - AO directed to accept the return of income as business income. - AT....