Cash deposits in bank account as unexplained cash deposits - ...

Income Tax

April 11, 2020

Cash deposits in bank account as unexplained cash deposits - cash deposits pertained to assessee's retail business - Since the assessee has not maintained any books of accounts, hence, in such situation only net profit as per provisions of section 44AD is required to be estimated as net profit and not entire turnover or cash deposits reflected in the bank account. - AT

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Cash deposits in bank account as unexplained cash deposits - ...

Income Tax

April 11, 2020

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