Once under the special provision of section 44AD exemption from maintenance of books of accounts have...

Once under the special provision of section 44AD exemption from maintenance of books of accounts have been provided and the presumptive tax at 8% of the gross receipts itself is the basis for determining the taxable income, the assessee was not under obligation to explain individual entry of cash deposits in the bank unless such entries had no nexus with the gross receipts. - AT .....

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