Presumptive Taxation Applied Because Business Receipts Can’t Be Fully Treated as Unexplained

Smt. Navjot Kaur Vs ITO (ITAT Amritsar)

Presumptive Taxpayer Gets Relief: Entire Cash Deposits Can’t Be Treated as Unexplained – Lump Sum Addition Sustained

Amritsar ITAT   granted substantial relief to a small business Assessee by holding that entire cash deposits cannot automatically be taxed as unexplained u/s 69/69A when income is declared on presumptive basis u/s 44

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